Naira gains against dollar at official forex market

At the official foreign exchange market this week, the naira saw its first increase versus the US dollar. 

According to FMDQ data, the value of a dollar increased from N1,419.11 on Monday to N1,390.96 on Tuesday. 

Compared to N1,419.11, it traded the day before; this indicates an N28.15 or 1.98 percent gain against the dollar in the forex market. 

Until Tuesday, the naira had been weakening in the official market against the US dollar for several days. 

On the other hand, the naira lost value against the dollar in the parallel market, falling from N1,280 to N1,360 on Tuesday. 

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.