Nigeria News

Naira floors dollar for second consecutive time in foreign exchange market

The naira appreciated for the second consecutive day in the foreign exchange market as the turnover of FX supply surged.

According to FMDQ data, the naira strengthened to N1,473.66 against the dollar on Tuesday, up from N1,483.62 on Monday. This marks a gain of N9.96 recorded on Tuesday.

In the parallel market, the naira held steady at N1,470 against the dollar on Tuesday, the same rate as on Monday.

This appreciation comes as foreign currency transactions surged dramatically to $385.91 million on Tuesday from $161.69 million the previous day.
Recall that the naira also appreciated against the dollar on Monday

Attah Mike

Attah Mike is in charge of Infotech at IDOMA VOICE. He is an AI enthusiast. A photoshop expert and trained photographer/videographer. He studied Computer Science at FPN

Recent Posts

Latest update on fuel price hike, fuel scarcity for November 22nd, 2024

As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National…

2 hours ago

Full List of 80,000 delisted companies published by CAC

The Corporate Affairs Commission (CAC) has officially removed companies that failed to file their annual…

2 hours ago

Amended NDLEA Act: Senate approves life imprisonment for drug traffickers, rejects death penalty

The Senate on Thursday agreed with the House of Representatives' recommendation to replace the death…

2 hours ago

Monday Odigie steps down as Bendel Insurance coach

Monday Odigie, the coach of Bendel Insurance Football Club of Benin, has resigned from his…

3 hours ago

Lewandowski reflects on missed Manchester United transfer

Robert Lewandowski has reflected on the time he nearly joined Manchester United in 2012, only…

3 hours ago

Okoye reflects on Super Eagles return after two years

Maduka Okoye has reflected on his first appearance for the Super Eagles in two years.…

3 hours ago