NAIRAMETRICS
The Naira opened the month of May on a negative note, trading at N1,360/$ at the parallel market, representing a slight decline of 0.74% from the naira-dollar exchange rate seen the previous day.
This change interrupted a two-day winning streak, sending uncertainty signals to investors and currency traders.
Based on data from the FMDQ official trading platform, the Naira gained N28.15 on the final trading day of April, settling at N1,390.96/$ as against N1,419/$ on April 29.
The positive trend was also reflected in trading volumes, with a 52.45% surge in forex turnover, reaching $225.36 million, up from the prior volume of $147.83 million.
However, compared with the beginning of April, the April 30 rate was a 5.8% depreciation from N1,309.39 seen on April 1.
