Nigeria’s foreign exchange daily turnover rose by 7.29 percent to $15.31 million on Tuesday from $14.27 million recorded on Monday at the Investors and Exporters (I&E) forex window.
The increase reflects the forces of demand and supply as there was a transaction between the investors and exporters at the market.
Naira gained N0.50k against the dollar which was quoted at N386.00k on Tuesday as against N386.50k quoted on the previous day at the I&E window, data from the FMDQ showed.
The FX market opened on Tuesday at the Investors and Exporters (I&E) forex window with an indicative rate of N387.39k, representing a marginal appreciation of N0.07k when compared with N387.46k opened
with on Monday.
The foreign exchange market opened on Tuesday with the dollar trading at N450 the same as of Monday on the black market.
The market shows a quiet activity as demand was low, one of the traders said.
At the retail Bureau, Naira weakened by N2.00k as the dollar was trading at N452 on Tuesday compared with N450 traded since last week.
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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.
