Naira records 2.4% gain against US dollar

The Naira gained strength at the official foreign exchange market on Tuesday, trading at N1,630.45 to the United States dollar.

According to data from the official trading platform of the FMDQ, this reflects a 2.4% improvement compared to the previous trading day, when the currency closed at N1,670.65 per dollar.

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Additionally, the daily turnover on Tuesday surged to $242.59 million, a sharp increase from the $81.17 million recorded on Monday.

At the Investors and Exporters (I&E) window, the exchange rate fluctuated between N1,690 and N1,601 per dollar throughout the day.