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Naira Strengthens Against Dollar in Forex Market



In Nigeria’s official foreign exchange market, the Naira experienced a slight appreciation on Tuesday.

According to FMDQ data at the end of the work day, the Naira strengthened by N177.68, with an exchange rate of N815.32/$1.

This gain occurred just one day after the Naira depreciated against the Dollar in the foreign exchange market on Monday.

In the parallel market, the Naira was exchanged at N1170/$1 on Tuesday, compared to N1200/$1 on Monday.

Last week, Finance Minister Wale Edun announced that the country is expected to receive a $10 billion influx of foreign currency to address the forex crisis.

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