Naira gains ground, closes April strong against dollar

The Naira ended April on a high note, closing at N1,390.96 against the dollar, marking a gain of N28.15 compared to the previous trading day.

This positive development, representing a 1.98% appreciation, was reported by the official trading platform of the FMDQ Exchange.

The increased value of the Naira comes after about two weeks of steady decline, during which it had fallen to N1,419 against the dollar.

Alongside the currency’s upward trajectory, the total daily turnover also saw a notable increase. On Tuesday, it stood at $225.36 million, up from $147.83 million recorded on Monday.

At the Investor’s and Exporter’s (I&E) window, the Naira traded within the range of N1,450 and N1,200 against the dollar, indicating a stable performance.

This positive outcome signifies a boost in investor confidence and highlights the resilience of the Nigerian currency amid economic fluctuations.