The Naira gained N3.31 at the official market on Tuesday, trading at N1,465.68 to the dollar.<\/p>\n
Data from the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed a 0.22 percent appreciation for the Naira compared to Monday\u2019s rate of N1,468.99 to the dollar<\/p>\n
The volume of currency traded also increased, with the total daily turnover rising to 268.17 million dollars on Tuesday from 161.41 million dollars on Monday.<\/p>\n
At the Investor\u2019s and Exporter\u2019s (I&E) window, the Naira traded between N1,549.00 and N1,401.00 against the dollar<\/p>\n
The Association of Bureau De Change Operators of Nigeria (ABCON) commended the CBN\u2019s reforms for the Naira\u2019s appreciation at the official market.<\/p>\n
ABCON President, Dr Aminu Gwadabe, urged the CBN to sustain policies benefiting the local currency.<\/p>\n
Gwadabe cited multifaceted efforts through fiscal and monetary policies, alongside security agency interventions, as key to the Naira\u2019s recovery.<\/p>\n
\u201cVolatility is like runoff water; if not directed, it will direct itself. I am happy to see multiple agencies coming together to confront these challenges,\u201d he said.<\/p>\n
Gwadabe called for technological upgrades and collaboration among operators, regulators, the government, and security agencies.<\/p>\n
This, he noted, was to improve control over the foreign exchange market and to establish a bylaw to mitigate volatility. (NAN<\/p>\n","protected":false},"excerpt":{"rendered":"
The Naira gained N3.31 at the official market on Tuesday, trading at N1,465.68 to the dollar. Data from the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed a 0.22 percent appreciation for the Naira compared to Monday\u2019s rate of N1,468.99 to the dollar The volume of currency traded also increased, with […]<\/p>\n","protected":false},"author":7,"featured_media":32206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-32205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=32205"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32205\/revisions"}],"predecessor-version":[{"id":32207,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/32205\/revisions\/32207"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/32206"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=32205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=32205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=32205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}