Turnover at the foreign exchange market plunged to $166 million on Wednesday, 24 hours after hitting the historic $1 billion mark.
Data from FMDQ showed that the turnover of FX transactions dropped significantly to $166 million on Wednesday from $1.085 billion the previous day.However, the naira appreciated against the dollar at the official foreign exchange market.
FMDQ data at the close of work showed that N1,262.85 was exchanged for a dollar on Wednesday, compared to N1,278.58 on Tuesday.
This represents a gain of N15.73 compared to the N1,278.58 per USD traded on Tuesday.Meanwhile, the prices of foodstuffs remain on the high side following soaring inflation.
