On Tuesday, the Naira experienced an appreciation in the official market, trading at N1,630.45 to the dollar.
This positive movement in the currency exchange rate reflects a potential stabilization in the foreign exchange market, which has been characterized by volatility in recent times.
Analysts are observing this development closely, as it may indicate a shift in investor confidence and economic conditions in Nigeria.
Data from the official trading platform of the FMDQ showed that this represents a 2.40 per cent gain when compared to the previous trading date on Monday, when it exchanged at N1,670.65 to a dollar.
Also, the total daily turnover increased to 242.59 million dollars on Tuesday up from 81.17 million dollars recorded on Monday.
At the Investors and Exporters (I&E) window, the Naira traded between N1,690 and N1,601 against the dollar.