Market News
Naira continues appreciation against dollar across official, black markets - DAILY POST
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The Naira appreciated significantly against the dollar across official and parallel foreign exchange markets to end the week on a good note.
The Central Bank of Nigeria’s data showed that the naira strengthened to N 1,531.57 on Friday, up from N 1,535.47 exchanged on Thursday.
This indicates that the Nigerian currency firmed up by N3.9 against the dollar on a day-to-day basis and had the highest gain this week.
Similarly, at the black market, the Naira appreciated by N5 to close at N1,543 per dollar from N1,548 traded on Thursday.
DAILY POST reports that this is the third consecutive time the Naira has appreciated against the dollar at the official market this week upon a surge in external reserves to $41.24 million.
As of 29th August, FX reserves have surged to $41.26 million, according to the apex bank data.
