Another Magic As Naira Strengthens To 1,339.33/$ At Official Market

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The naira appreciated to 1,339.33/$ at the close of trading on the official window on Monday, gaining 9.68 per cent over Friday’s 1,482.81/$.

According to FMDQ data, which houses the Nigerian Autonomous Foreign Exchange Market, the daily turnover dropped to $180.80m from $556.25m on Friday, indicating a 67.50 per cent decline.

At the official market, the naira traded at an intraday high of N1,501 and an intraday low of N1,310 to the dollar on Monday.

At the black market, the naira traded at N1,520, indicating a 1.32 per cent depreciation from N1,500 exchanged on Friday.