The value of Nigeria’s currency was stable on Tuesday as the dollar was trading at N458 on the black market.
Traders said the market was quiet as demand slows on Tuesday unlike on Monday when demand increased.
At the retail Bureau, Naira also was stable at N460 per dollar. The same applies to the official forex window which has been stable at N361. 00k against the dollar.
However, the foreign exchange market opened with an indicative rate of N386.00k on Tuesday. This represents N0.83k gain when compared with N386.83k opened with on Monday at the Investors and Exporters (I&E) forex window, data from FMDQ revealed.
The market closed at N386.00k on Monday, which was N0.50k gain over N386.50k closed on Friday. The daily foreign exchange turnover increased by 66.42 percent to $63.44 million on Monday from $38.12 million recorded on Friday last week.
Get Newsletter Updates
Enjoying our column?
Subscribe to our specialised **Tax 360** feed to receive fresh reports and analyses directly in your inbox.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
