Market News
Naira appreciates across official, black markets to begin on a good note - DAILY POST
The naira appreciated against the dollar across parallel and official foreign exchange markets on Monday to begin the week on a good note.
Data from the Central Bank of Nigeria showed that the naira appreciated to N1,497.11 per dollar on Monday from N1500.7 traded on Friday last week.
This showed that at the official FX market, the Naira gained N3.11 compared to N1500.7 exchanged on Friday, 21 2025.
Similarly at the black market, the Naira strengthened to N1,500 per dollar on Monday from N1,505 traded on last Friday.
In the parallel FX market, the Naira rose by N5 when compared to N1,505 per dollar last Friday.
DAILY POST reports that in the past week, the Naira had recorded more gains than losses.
Last week, the Naira strengthened by N60 at the black market.
Meanwhile, the Chief Executive Officer of Financial Derivatives, Bismark Rewane, has cautioned that it is not yet uhuru for the Naira, as the CBN still spent $8 billion to defend the Nigerian currency at the FX market.
