After a series of continuous free falling of Naira, the Nigerian currency has begun to bounce back, appreciating massively against the US Dollar, HotNewsInNaija.com has gathered.
In a remarkable turn of events, the Naira, on Monday, experienced a significant appreciation against the US dollar in the official market, trading at N1,339.33 per dollar.
According to Daily Post, this marked a substantial gain of N143.48 from its previous trading value of N1,482.81 on Friday, May 24, 2024, reflecting a remarkable 9.67% increase.
However, despite this impressive surge, the total daily turnover in the official market witnessed a sharp decline, plummeting to $180.80 million from $556.25 million recorded on Friday.
This decline in turnover suggests a notable reduction in trading volume on the day of the appreciation.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira exhibited some level of volatility, trading between N1,501 and N1,310 per dollar.
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