Business
Naira records slight gains against Dollar at official market
The Nigerian currency, Naira, recorded a slight gain over the United States dollar at the official exchange market on Tuesday.
Data from FMDQ Securities where investors and exporters buy and sell forex showed that Naira’s exchange rate to the dollar closed at N428.75.
This, according to the firm, was a 0.52 percent increase over the N431 recorded on Monday.
READ ALSO: Expert reveals why Naira should be devalued now
The Naira’s good performance came just as forex supply to the market rose by $113.64 million on Tuesday.
This was also higher than the $115. 67 million achieved in the preceding session.
However, at the black market, Naira continues to struggle with the currency rotating between N650 and N680/$ on Tuesday.
-
Aviation6 days agoNigeria ends third-party visa processing in U.S, directs applicants to embassy, consulates
-
Business6 days agoFCCPC floors Air Peace as Court upholds authority to probe airline fare complaints
-
Business1 week agoSEC sets July 10 deadline for Q2 ownership, capital flows returns
-
News7 days agoEdo Police impose movement restriction ahead of Saturday’s LG’s elections
-
Business7 days agoHeavy reliance on portfolio inflows threatens Nigeria’s $51bn reserves — EBC
-
Business4 days agoNCC chief highlights trust as key to Nigeria’s digital transformation
-
Comments and Issues6 days ago‘Olodo Uprising’: When anti-intellectualism threatens good governance
-
Latest2 days agoLagos NURTW organising secretary Toba Ajiboye dies after gunmen attack