Naira increases by 0.6% against dollar at official market

The naira on Monday appreciated at the official market, trading at N1,607.15 to the dollar.

According to data from the FMDQ Exchange, which monitors the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira gained N9.93, marking a 0.61 percent increase compared to the previous trading date on August 2, when it was valued at N1,617.08 to the dollar.

However, the total daily turnover fell to $77.09 million on Monday, a decrease from the $131.55 million recorded on August 2.

In the Investor’s and Exporter’s (I&E) window, the naira traded between N1,620.50 and N1,570.00 against the dollar.