Business
Naira Appreciates Against Dollar For Second Consecutive Time as FX Supply Surges
The naira appreciated for the second consecutive time in the foreign exchange market as the turnover of FX supply surged.
FMDQ data showed that the naira appreciated to N1, 473.66 against the dollar on Tuesday from N1, 483.62 on Monday.
This represents N9.96 gain recorded on Tuesday.
At the parallel market section, the aira maintained at N1, 470 against the mark on Tuesday the same as the figure recorded on Monday.
The development comes as the foreign currency transactions surged astronomically to $385.91 million on Tuesday from $161.69 million the previous day.
Rcalls that the naira also appreciated against the dollar on Monday when it traded at N1, 483.62 against the dollar.
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