Market News
Naira appreciates against USD - DAILY POST
The naira appreciated against the United States dollar at the official foreign exchange market on Tuesday.
Central Bank of Nigeria data showed that the naira strengthened for the first time this week on Tuesday, rising to N1,330.87 per dollar from N1,331.69 on Monday.
This means that, on a day-to-day basis, the Nigerian currency gained N0.82 against the dollar.
Meanwhile, at the parallel market, the naira remained unchanged at N1,370 per dollar on Tuesday, the same rate recorded the previous day.
The movement in the Nigerian foreign exchange markets comes as the country’s external reserves surged further to $54.98 billion.
Recall that on Monday and Friday last week, the naira closed on a negative note at the official foreign exchange market.
