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Naira rises against dollar at foreign market
On the foreign exchange market, the naira strengthened versus the dollar to begin the week strongly.
According to FMDQ data, the value of the naira increased by N12.79 on Monday to N1585.77 per dollar, up from N1598.56 on Friday of previous week.
In a same vein, the naira strengthened N10 in the parallel foreign currency market, closing at N1635 per dollar on Monday as opposed to N1645 on Friday.
This demonstrated that the naira gained a substantial amount vs the dollar on As for foreign exchange transaction turnover, FMDQ data revealed that it fell sharply to $71.18 million at the end of business last week from $172.80 million.
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