The Naira rose strongly versus the US dollar in the official market on Wednesday, following a small drop on Tuesday.
According to market data released on the FMDQ website, the naira finished Wednesday at N1,072.74/$1, compared to N1,148.14 in the previous market session on Tuesday.
This marks a 6.6% increase from Tuesday’s closing price of N1,148.14. On Wednesday, the Naira reached an intraday high of N981.04 and fell to a low of N1,220.00 per dollar before ending at N1,072.74/$1.
Meanwhile, the naira’s foreign exchange turnover on Wednesday was $189.12 million, according to official market data.