Market News
Naira appreciates to begin week on good note - DAILY POST
The naira appreciated against the dollar at the official foreign exchange market on Monday, resuming the week on a positive note.
Central Bank of Nigeria data showed that the naira strengthened slightly to N1,320.56 against the dollar on Monday from N1,321.22 recorded on Friday last week.
This means that the naira gained N0.66 against the dollar at the official foreign exchange market.
Meanwhile, at the black market, the naira remained unchanged at N1,400 per dollar on Monday, the same rate recorded at the close of trading last week.
This comes as the country’s foreign reserves surged to $54.13 billion on Friday.
Recall that the naira depreciated on Friday to end the week on a negative note after four consecutive days of appreciation.
