Business
Naira recovers some of its lost value against US dollar

The Nigerian Naira has recorded slight improvement in its value against the US dollar, after experiencing a decline over the past few days.
Checks showed that the Naira appreciated against the Dollar on Tuesday at the Peer-2-Peer (P2P), the Investors and Exporters (I&E), and the black market windows of the foreign exchange (forex) market.
In the parallel market, the Nigerian Naira gained N1 against the US Dollar during the session to settle at N745/$1 compared with Monday’s exchange rate of N746/$1.
Similarly, in the P2P segment, the local currency was fortified against the greenback by N1 to close at N753/$1, in contrast to the previous session’s value of N754/$1.
Similarly, the domestic currency was strengthened against its American counterpart in the I&E window or the spot market by 25 Kobo or 0.05 percent to trade at N461.42/$1 versus Monday’s N461.67/$1.
Naira strong showing at the official market was despite huge FX demand pressure.
FMDQ Securities Exchange data showed that market turnover surged by 46.11 percent or $35.80 million to $113.44 million from $77.64 million.
However, the local currency depreciated against the Pound Sterling in the interbank segment yesterday by N4.18 to close at N561.67/£1 versus Monday’s N557.49/£1.
Naira also lost N2.06 of its value against the Euro to settle at N494.65/€1 compared with the preceding day’s N492.59/€1.
-
Politics6 days ago
‘Peter Obi will soon be arrested, Watch Out’ – Actor, Kanayo O Kanayo reacts to conspiracy brewing
-
Politics3 days ago
2023 Election: 6 Women Who Won The Seat of Deputy Governors Of Their Respective States (Photos)
-
News6 days ago
Thugs protest apparent loss of APC’s Binani in Adamawa guber election
-
Politics4 days ago
PDP Clears Diri For Bayelsa Governorship Election
-
Politics4 days ago
UPDATE; Total Numbers Of States PDP Has Won In The Governorship Elections Across Nigeria So Far
-
Entertainment6 days ago
Peter Obi will soon be arrested, watch out – Kanayo O Kanayo
-
News6 days ago
BREAKING: INEC declares APC’s Abdullahi Sule winner of Nasarawa governorship election
-
News5 days ago
It’s Official: PDP’s Dauda Lawal wins Zamfara, defeats Governor Matawalle