Posted by On Tuesday, the official foreign exchange market saw a little rise in the value of the Naira, Nigeria’s currency.
At Tuesday’s end, the Naira had risen in value by N177.68, with an exchange rate of N815.32 to $1, as reported by FMDQ.
Just 24 hours after the Naira fell in value versus the Dollar on Monday’s forex market, it has rebounded.
The Naira exchanged for N1170 to $1 on the black market on Tuesday, down from N1200 on Monday.
The Minister of Finance, Wale Edun, last week had stated that the country would soon receive an inflow of $10 billion in foreign currency to ameliorate the FX problem.