Naira appreciates against dollar first time in a week

The naira appreciated against the dollar at the foreign exchange market for the first time since last week.

FMDQ data showed that the naira strengthened to N1645.45 per dollar on Wednesday from N1689.88 exchange on Tuesday. This represents a N44.43 appreciation.

Meanwhile, at the black market, the naira closed at N1,745 against the dollar on Wednesday from N1,740 recorded the previous day.

This comes as the FX transaction turnover increased to $236.84 million on Wednesday from $106.44 million recorded the previous day.

DAILY POST reports that the last time the naira gained against the dollar was last Thursday.

Naira appreciates against dollar first time in a week