The Naira continued its recovery against the dollar on Tuesday, to close at N806.73/$1 in the official Nigerian Autonomous Foreign Exchange Market window where forex is officially traded.
This represents a gain of N31.04 or a 3.85% increase in the local currency compared to the N837.77 it closed on Monday.
The intraday high recorded was N1150/$1, while the intraday low was N757/$1, representing a wide spread of N393/$1.
According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $142.63 million, representing a 92.93% increase compared to the previous day.
However, the Naira dropped marginally at the parallel forex market where forex is sold unofficially, the exchange rate appreciated by 0.43%, quoted at N1170/$1, while peer-to-peer traders quoted around N1165.23/$1.
Also, the Naira gained marginally against the Pound closing at 1,435/£1 against the 1,460/£1 on Monday.
The Euro also lost about N5 to the Naira closing at ₦1,240/€1 against the ₦1,245/€1 on Monday while the Canadian dollar closed flat against the Naira at N900/CA$1 same as Monday, December 4, 2023.