Official Market Hits Record Daily Turnover of $857m

*As Naira Continues to Gain, Closes at N1,300/$1 at Parallel Market

Nume Ekeghe

The official market witnessed a remarkable surge in trading activity yesterday, with the daily turnover reaching an all-time high of $857 million.
The daily turnover also increased by 106.1 per cent to $857.78 million from $416.10 million on Wednesday.

This is as the naira continued to appreciate against the dollar at the parallel market but marginally declined at the official window.  
The naira gained at the parallel market yesterday for the eighth consecutive day closing at N1,300/$1 compared to N1,320 it closed on Wednesday signifying N20 gain.

On the official Nigerian Autonomous Foreign Exchange (NAFEM) window, the naira marginally depreciated by N8.94 to close at N1,309.37/$1, compared to N1,300.43/$1 on Wednesday.
Also, the highest spot rate yesterday was pegged at N1,392.39 while the lowest spot rate recorded was N1,250.