On September 27, 2024, the naira showed strength against the US dollar, closing at N1,540.78 in the official Investor and Exporter (I&E) window, marking a 2.24% increase from the previous day’s rate of N1,576.10. This positive development comes as the naira aims for stability in its exchange with the dollar.
Although the naira showed resilience, market turnover decreased significantly by 36%, dropping from $334.05 million on Thursday to $212.31 million on Friday.
Key Data Points to Note:
– Closing Exchange Rate: The naira concluded trading at N1,540.78 per dollar, reflecting a notable gain of 2.24% from the previous day’s rate.
– Intra-day Highs and Lows: The naira showed volatility during trading, reaching a high of N1,691.00 and a low of N1,530.00 before settling at N1,540.78.
– Market Turnover: Turnover in the I&E window decreased to $212.31 million from $334.05 million the day before. Total turnover for August was $3.3 billion, slightly lower than July’s $4.34 billion.
