BREAKING: Naira Regains Value As Dollar Falls To N900/$ From ₦1,350
Pqconnect 
The naira is experiencing a resurgence against the dollar as the federal government begins to clear backlogs.
The Foreign exchange market witnessed a significant turnover of $2.23 billion in October.
The naira also rebounded on the parallel and official markets as CBN reportedly supplied banks with $6.7 billion to clear backlogs.
The volume of dollars traded in the Nigerian Foreign Exchange Market (NAFEM) window increased by 23.8% monthly to $2.23 billion in October 2023 from $1.8 billion in September, showing an increase in Forex inflows.
Data shows that weekly transactions in the official NAFEM showed that turnover recorded upswings across the four weeks in October from $326.44 million in the first week of October to $642.89 million in the last week but thawed to $163.04 million in the previous two trading day in October.
