The Naira closed the month of April on a positive trajectory, marking a significant gain of N28.15 against the dollar in the official market.
Trading at N1,390.96 to the dollar, the local currency experienced a notable appreciation of 1.98%, according to data from the FMDQ Exchange, overseeing the Nigerian Autonomous Foreign Exchange Market (NAFEM).
This gain comes after a period of approximately two weeks of steady decline, during which the Naira exchanged at N1,419 to a dollar.
The increase in value also reflected in the volume of currency traded, with the total daily turnover reaching $225.36 million on Tuesday, compared to $147.83 million recorded on Monday.
Similarly, at the Investor’s and Exporter’s (I&E) window, the Naira exhibited resilience, trading within the range of N1,450 and N1,200 against the dollar.
The positive performance of the Naira at the close of April indicates renewed confidence in the local currency among market participants.
