nvestors and exporters traded $68.10 million in foreign exchange on Tuesday, dropping the value of transactions by 30.28 per cent.

This represents a shortfall of $29.59 million, as foreign exchange traders recorded a $68.10 million forex transaction in the official market, against the $97.69 million traded on Monday.

The value of transactions fell following an increase in the price of the United States Dollar (USD), which was sold at the rate of N788.42/$1.

Prime Business Africa gathered from FMDQ Exchange data that the price of the dollar was raised by N44.35 kobo or 5.96 percent, from the previous day’s N744.07/$1 rate.

But the data revealed that the day’s highest and lowest rates are N803/$1 and N730/$1, respectively, before the naira to dollar closed at N788.42/$1.


To read more, click on the link below
https://www.primebusiness.africa/forex-transactions-fall-as-dollar-euro-and-pound-cost-buyers-more/