The Naira, on Tuesday, appreciated against the US dollar in the foreign exchange market, as forex supply increased.
FMDQ data showed that the Naira gained to N1,561.76 against the dollar on Tuesday, from N1,635.15 exchanged on Monday. This represents an N73.39 appreciation.
Meanwhile, the Naira fell further against the dollar in the black market to N1,780 per dollar on Tuesday.
The foreign currency transaction turnover increased to $253.68 million on Tuesday as against $126.24 million traded on Monday, according to FMDQ data.
The last time the Naira appreciated in the official foreign exchange market was last Friday when it stood at N1,631.21 per dollar.
Fluctuations in the FX market have been a recurring decimal despite the interventions of the Central Bank of Nigeria in the past months.