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Headline : Nigerian Naira Strengthens Against US Dollar in Official and Black Market

Read more from the original article on here at www.okay.ng.





Tags : #nigerian #naira #strengthens #against #us #dollar #official #black #market


No. of Paragraph 11

The Naira posted significant gains against the US Dollar in both the official and parallel foreign exchange markets on Friday, marking a positive end to the week for Nigeria’s currency.

According to data from the Central Bank of Nigeria (CBN), the naira appreciated to ₦1,535 per dollar at the official exchange market, rising from ₦1,567 on Thursday. This represents a gain of ₦32 within a single day.

On the FMDQ Securities Exchange, the naira traded between ₦1,480 and ₦1,700.76 per dollar by the close of Friday’s trading session. The FX transactions turnover stood at $175.5 million, indicating robust trading activity during the day.

The parallel market also experienced a substantial appreciation of the naira, with the currency trading at ₦1,600 per dollar on Friday, compared to ₦1,715 on Thursday. This translates to a gain of ₦115 in the black market.

Read more from the original article on here at www.okay.ng.


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