In a notable shift on Tuesday, the Nigerian naira demonstrated resilience by appreciating against the dollar, with an exchange rate of N757.51 at the Investors and Exporters window. This marked an impressive 2.23% gain compared to its previous exchange rate of N774.78 against the dollar just a day prior.

The day’s trading also unveiled a range of rates, with the open indicative rate closing at N782.59 per dollar. Notably, the highest spot exchange rate reached N799.90 before settling at the ultimately strengthened rate of N757.51.

Contrasting this upward trajectory, the naira exhibited considerable variability, dipping as low as N700 to the dollar within the span of the day’s trading activities.

The Investors and Exporters window saw a substantial volume of forex trading, with a total of $45.98 million exchanged on Tuesday. This dynamic activity underscores the continued importance of this market segment in shaping currency movements and facilitating economic transactions.

As the naira’s performance navigates fluctuations, the recent surge against the dollar offers a glimpse of respite for investors and economic stakeholders, reflecting a shift in market dynamics that could impact future trade and investment decisions.

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