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Naira strengthened slightly against the United States dollar at the authorised market on Tuesday, data posted by FMDQ, where forex is officially traded, showed.
According to the data, the local currency closed at N463.44/$1 against N463.67 it exchanged last week Thursday.
This translates to a N0.23 or 0.10 per cent appreciation from N463.67 recorded in the previous session.
The naira opened trading Thursday at N463.10 per $1, but closed at N463.44. Within the business period, the local currency reached a high of N458.04 and depreciated to a low of N466.00 before it closed at N463.44 to a dollar on Tuesday,
Forex supply within the official market segment plummeted by 44.83 per cent with $62.69 million posted against $139.85 million recorded in the previous market session last Thursday.
READ ALSO: Naira depreciates at official market
At the unauthorised market, the local unit rates collated across major exchanges in the country, showed that the domestic currency closed at N735.214 to a dollar on Tuesday as against ₦737.377 per $1 it was exchanged on the street Monday.
The spread between both the authorised and unauthorised markets stood at N271.77, leaving a margin of N58.64 per cent at the close of business on Tuesday.
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