Naira Strengthens Against Dollar At Official, Black Markets

The Naira gained further against the dollar at the official and parallel foreign exchange markets on Tuesday.

FMDQ data showed that the Naira strengthened to N1,544.05 per dollar on Tuesday from N1,545.10, exchanged on Monday.

This showed that the Naira recorded a N1.05 gain compared to N1545.10 per dollar traded on the previous day.

Similarly, in the black market, the Naira appreciated to N1,675 per dollar on Tuesday from N1,680 exchange rate on Monday.

EKO HOT BLOG reports that in the past two days, the Naira had strengthened against the dollar.

This comes as the Senate on Tuesday moved to ban the use of foreign currencies such as the dollar, which passed first reading.

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