Naira Rises by 12.35% to N1173 as FMDQ Corrects Error
The naira appreciate by 12.35% to N1,173.88 at the official market at the close of business on Tuesday but FMDQ left fx spot rate data at N1339 instead, creating confusion for majority of news platforms. However, the platform has corrected after flood of wrong FX spot were reported.
The error may not be unconnected with data glitch experienced on the platform yesterday. The Nigerian naira exchange rate was quoted at N1339 per US dollar in the foreign exchange market on Tuesday, according to data from the FMDQ exchange platform. Pressure on the naira has reduced compared to the recent past.
At the time of filing the report last night, the Apex Bank website showed an average rate of N1382, while the FMDQ Exchange rate showed N1339.33 per greenback. The local currency is on the line to regain previous losses sustained against the greenback due to FX liquidity challenges. #Naira Rises by 12.35% to N1173 as FMDQ Corrects Error
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