Dollar supply increases by 117% as Naira appreciates at FX market

Dollar supply increases by 117% as Naira appreciates at FX market …C0NTINUE READING HERE >>>

The supply of the Dollar and other currencies increased by 117 percent at the foreign exchange market as the Naira strengthened on Friday.

FMDQ data showed that the foreign exchange transaction turnover, which indicates a rise in liquidity in the FX market, increased to $190.57 million on Friday from $87.51 million on Thursday.

This represents a $103 million or 117 percent increase compared to the $87.51 million.

The development comes as Naira gained at N1,541.52 and N1,663 against the…

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