Naira makes huge recovery, gains 7.2% against dollar at official market
On Friday, April 12, the official market saw a sharp increase in the value of the Naira, which was trading at N1,142.38 to the US dollar.
Data from the FMDQ Exchange’s official trading site was used to find the Naira’s recovery.
The Nigerian Autonomous Foreign Exchange Market platform showed that the Naira increased by N88.23.
Prior to the Sallah vacation, this indicates a 7.16 percent gain over the previous trading date on Monday, when it was valued at N1,230.61 to the dollar.
On Monday, April 8, the entire daily turnover was $125.55 million; on Friday, it reached $281.34 million.
In the meantime, the Naira fluctuated in value against the dollar between N1,265 and N1,100 at the Investor’s and Exporter’s window.