The Nigerian naira sustained gains on Tuesday, appreciating by 6.58 percent to close at N742.93/$ at the investors and exporters (I&E) window.
The improving fortune of the naira comes two sessions after it fell record low of N803.9/$ last Friday.
Data from FMDQ Securities Exchange, a platform that oversees foreign exchange (FX) trading in Nigeria, showed that the local currency hit an intra-day trading high of N831 and a low of N707.99 before it settled at N742.93.
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.
