AT THE OFFICIAL MARKET, THE NAIRA EARNS N28.34 AGAINST THE US DOLLAR.

At the official market, the Naira increased by N28.34 to trade at N1,468.99 to the dollar. On Monday, May 20, 2024, data from the Financial Market Dealers Quotation (FMDQ) Exchange showed that the gain amounted to 1.89 percent of the Naira’s rise.

When compared to the previous trading date on Friday, May 17, 2024, when the local currency traded at N1,497.33 to the dollar, the % rise is noteworthy.

Additionally, the amount of currency exchanged climbed as the whole daily turnover rose from 83.50 million dollars on Friday to 161.41 million dollars on Monday.

In the meantime, the Naira fluctuated in value against the dollar between N1,550 and N1,400 during the Investors and Exporters (I&E) window.