Naira Gains Against Dollar, Exchanges At N742

On Tuesday, the Naira experienced a slight increase in value against the US dollar, with an exchange rate of N742.10 at the official window.

According to NAN, the local currency gained by 4.06 per cent compared to the N773.50 it exchanged against the dollar on Monday.

The open indicative rate closed at N761.24 to the dollar on Tuesday.

A spot exchange rate of N807.15 to the dollar was the highest rate recorded within the day’s trading before it settled at N742.10.

The Naira sold for as low as N738 to the dollar within the day’s trading.

However, in the parallel market, the Naira exchanged at N924/$1.

On Tuesday, $42.26 million was traded at the investors and exporters window.

DAILY POST reports that the Acting Governor of the Central Bank of Nigeria, Mr Folashodun Adebisi Shonubi, a week ago vowed to intervene in the country’s forex challenges.