The naira experienced a further appreciation at the official market, trading at N1,382.95 to a dollar on Tuesday, March 26, 2024.
Data from the official trading platform of the FMDQ revealed that the naira strengthened by N25.09 or 1.78 per cent, compared to the previous day’s rate of N1,408 against the dollar.
However, the total turnover increased to $245.58 million on Tuesday, up from $222.15 million recorded on Monday.
CBN raises interest rate to 24.75%
Meanwhile, at the Investors and Exporters (I&E) window, the naira traded between N1,486 and N1,300 against the dollar.
The Central Bank of Nigeria (CBN) had, on Tuesday, raised the Monetary Policy Rate (MPR) by 200 basis points from 22.75 per cent to 24.75 per cent.
CBN Governor, Yemi Cardoso, said this was meant to tackle the nation’s rising inflation.
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