The foreign exchange market opened on Monday morning with an indicative rate of N386.25k per dollar at the Investors and Exporters (I&E) forex window.

This represents N1.00k gain for Naira when compared with N387.25k it opened with last week Friday at the I&E window, data from FMDQ revealed.

Foreign exchange daily turnover rose by 592.2 percent to $156.78 million on Friday from $22.65 million on Thursday.

Dollar is trading at N440 on the black market, indicating a N5 depreciation from N435 traded at the weekend. Against the rate exchanged on Friday last week, Naira gained N5 as the dollar was sold at N445.

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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.

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