On Tuesday, the investors and exporters (I&E) window saw a 6.58 percent increase in the value of the Nigerian naira to close at N742.93/$.
The naira’s situation has improved two sessions after it last Friday hit a record low of N803.9/$.
The local currency reached an intraday trading high of N831 and a low of N707.99 before settling at N742.93, according to data from FMDQ Securities Exchange, a platform that regulates foreign exchange (FX) trading in Nigeria.
FMDQ quoted an opening rate of N788.17 to the dollar on Tuesday.
FX turnover within the day’s market session increased significantly by 352.36 percent to $156.29 million from $34.55 million published in the previous market session on Monday.
Meanwhile, the greenback was sold at N825 at the parallel/black market on Tuesday, Bureaux De Change operators (BDCs) in the Ikeja area of Lagos told TheCable.
On Monday, one dollar was sold at N827 at the black market.