Dollar and Naira photos
On Tuesday, January 23, the Naira traded at N1,355 to a dollar in the parallel market, marking an increase from the N1,350 to a dollar recorded on Monday, January 22.
Meanwhile, the Naira experienced appreciation in the Nigerian Foreign Exchange Market (NAFEM), reaching N878.61 per dollar. Data obtained from FMDQ revealed that the indicative exchange rate for NAFEM dropped to N878.61 per dollar, compared to N925.34 per dollar on Monday, indicating a N46.73 appreciation for the Naira.
The intraday high rate reached N1,336.05 per dollar, while the intraday low was N701 per dollar, representing a margin of N635.05. Additionally, the volume of dollars traded on the window decreased by 20 percent, falling from $73.33 million on Monday to $58.46 million.