The naira has appreciated against the dollar in the official foreign exchange market for the first time since last week.
According to FMDQ data, the naira strengthened to N1,678.93 per dollar on Tuesday, up from N1,690.37 on Monday, marking an appreciation of N11.77. This is the first time the naira has appreciated at the official market since November 13, 2024, when it closed at N1,645.
Meanwhile, the exchange rate in the black market remained unchanged at N1,745 per dollar on Tuesday, the same rate as on Monday.
This occurs as FX transaction turnover decreased to $173.14 million on Monday, down from $296.63 million on the previous Friday, according to FMDQ data.
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