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Forex

Naira Gains Strength Against Dollar as Interbank Turnover Surges

Guavy AI Editorial Team
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USD
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The Nigerian naira gained strength against the US dollar on Tuesday, reflecting improved liquidity conditions in the official window.

The local unit rose by 0.06% to N1,330.4737 per US dollar at the Nigerian Exchange Market (NFEM), down from N1,331.3292 the previous day.

Transactions were executed between N1,327.5000 and N1,331.5000, representing a moderate intraday improvement from Monday's market record.

The Central Bank daily FX data showed that interbank turnover increased by about 226% to $80.582 million on Tuesday, from $24.731 million in the previous trading session.

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