Naira appreciates by 0.6% against dollar at official market

The Naira on Monday appreciated at the official market, trading at N1,607.15 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N9.93.

This represents a 0.61 per cent gain when compared to the previous trading date on Aug. 2 when it exchanged at N1,617.08 to a dollar.

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However, the total daily turnover reduced to 77.09 million dollars on Monday, down from 131.55 million dollars recorded on Aug. 2.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,620.50 and N1,570.00 against the dollar.