adsThe naira traded largely flat against the dollar across the foreign exchange (FX) market segments on Tuesday, as increased interbank transactions supported liquidity amid rising external reserves.
Data published by the Central Bank of Nigeria (CBN) showed that the naira depreciated marginally by 49 kobo, with the dollar quoted at N1,375.41 on Tuesday, compared to N1,374.92 on Monday at the Nigerian Foreign Exchange Market (NFEM).
Total turnover in the interbank segment rose to $73.59 million on Tuesday, representing a 31.91% increase from $55.79 million recorded on Monday. Interbank deals also jumped by 54.93%, rising from 71 transactions on Monday to 110 deals on Tuesday, according to the CBN available data.
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At the NFEM window, however, total turnover declined by 59.03% to $175.34 million on Monday, down from $428.01 million on Friday. The number of deals at the window also fell to 217 on Monday from 248 recorded on Friday, based on available CBN data.adsads
