Naira rebounds, gains N28.15 against dollar
The naira on Tuesday closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market indicated that the gain represented a 1.98 per cent appreciation for naira.
The percentage increase is significant compared to the previous trading date on Monday, April 29.
The local currency for about two weeks recorded a steady fall by exchanging at N1,419 to a dollar.
The success story was replicated in the volume of currency traded, as the total daily turnover increased.
The daily turnover stood at $225.36 million on Tuesday up from $147.83 million recorded on Monday.
Meanwhile, at the Investor’s and Exporter’s window, the naira traded between N1,450 and N1,200 against the dollar.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
May Day: PRP supports workers’ demand for quality wages
The party said it recognised the contributions of workers to the growth and development of the nation.
Economy
Minister unveils blueprint for gender-balanced mining sector
The minister said the blueprint was for stakeholders to create a more inclusive and gender-balanced mining and steel sector.
World
Pro-Palestine protesters at Columbia University arrested after destroying building
Many riot police stormed the campus on Tuesday.
Economy
Tariff Hike: Tribunal orders substituted service of interim order on MultiChoice
The pay-TV company claimed the price hike was due to the cost of business operations in Nigeria.
NationWide
May Day: First Lady hails workers , seeks improved productivity
Mrs Tinubu prayed that May Day would continue to be a source of strength, prosperity, and national progress for the country.
NationWide
Biden’s African diaspora council to visit Nigeria July
The meeting also focused on discussions on how both nations could cooperate with each other.
