Naira Gains At Official Market Amidst Depleting Reserve

40 Days(s) Ago    👁 57
naira gains at official market amidst depleting reserve

The Naira appreciated significantly against the United States dollar at the official market on Wednesday after the local unit recorded a slight depreciation on Tuesday.

According to market data published on the FMDQ website, naira closed Wednesday at N1,072.74/$1 as against N1,148.14 recorded in the previous market session on Tuesday.

This represents N75.4 or 6.6 per cent appreciation from N1,148.14, the domestic currency closed on Tuesday. On Wednesday, the Naira experienced an intraday high of N981.04 and stooped to a low of N1,220.00 to a dollar before closing at N1,072.74/$1.