On Friday, April 12, the Naira saw a significant increase in value on the official market, trading at N1,142.38 to the dollar. This information comes from data on the official trading platform of the FMDQ Exchange, indicating a notable recovery for the Naira.
The Nigerian Autonomous Foreign Exchange Market, overseen by the platform, reported a significant gain for the Naira, amounting to N88.23.
This reflects a 7.16% increase compared to the previous trading day on Monday, where it exchanged at N1,230.61 per dollar before the Sallah holiday.
Furthermore, the total daily turnover surged to $281.34 million on Friday, up from $125.55 million recorded on Monday, April 8.
Meanwhile, at the Investor’s and Exporter’s window, the Naira was traded at rates ranging between N1,265 and N1,100 against the dollar.