The Naira gained by N28.34 on Monday in the official market, closing at N1,468.99 to the dollar, marking a noteworthy move.
According to data from the FMDQ Exchange’s official trading portal, the increase signified a 1.89 percent appreciation of the Naira.
When compared to the previous trading date on Friday, May 17, 2024, when the local currency traded at N1,497.33 to the dollar, the % rise is noteworthy.
Over the previous several weeks, Nigeria’s foreign exchange (FX) reserves rose by almost $535 million.
By May 16, 2024, FX reserves have increased from $32.107 billion on April 19, 2024, to $32.642 billion. [CONTINUE READING HERE]
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