See Exchange Rate Tonight As Naira Appreciates Further Against Dollar At Official Market

Naira on Monday further appreciated at the official market, trading at N1,354.21 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N46.19.

See Exchange Rate Tonight As Naira Appreciates Further Against Dollar At Official Market

This represents a 3.29 per cent gain when compared to the previous trading date on Friday, May 3, when it exchanged at N1,400.40 to a dollar.

However, the total daily turnover reduced to 84.83 million dollars on Monday, down from 201.88 million dollars recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,441.00 and N1,285.00 against the dollar.

Meanwhile, Richard Montgomery, the British high commissioner to Nigeria, on May 5, said the new exchange rates policy under the present government and the leadership of the Central Bank of Nigeria (CBN) is attracting investors.

“You all know that the foreign exchange system in the past chased away investors because it is difficult to get your exchange done and you do not know whether you will be able to move money across borders,” Montgomery said.

The British envoy also said trade relations between Nigeria and the United Kingdom (UK) are about £7 billion.