WATCH THE VIDEO HERE The Nigerian Autonomous Foreign Exchange (NAFEM) saw a notable appreciation on Tuesday, with the closing rate standing at N1560.57 to $1. This represents a significant gain of N36.67 or 2.35% from Monday’s closing rate of N1,597.24/$1. Additionally, the Naira maintained its position below the N1,600/$1 mark for the second day in a row, a threshold it had previously sustained for nine days since March 5th, 2024. The trading activity on Tuesday also reflected an increase, with the daily turnover reaching $195.13 million, marking a substantial 38.93% rise from the $140.45 million recorded on Monday. Furthermore, data from FMDQ Securities reveals that there has been an impressive increase of 4.34% or $1.43 billion in daily turnover from the beginning of the year to March 18th, 2024. On Tuesday, the naira experienced varied outcomes against key international currencies within the Investors and Exporters (I&E) window.
Naira closes at N1,560.57/$1 at official market
