Market News
Naira extends appreciation against US currency - DAILY POST
The naira continued its appreciation against the dollar at the official foreign exchange market on Thursday.
Data from the Central Bank of Nigeria showed that the naira strengthened further to N1,338.59 per dollar on Thursday, up from N1,343.59 per dollar recorded on Wednesday.
This means that on a day-to-day basis, the naira gained N5 against the dollar.
Meanwhile, at the black market, the naira remained flat at N1,407 per dollar on Thursday, the same rate recorded the previous day.
The development comes as the country’s foreign exchange reserves rose to $53.29 billion on Wednesday.
Recall that on Wednesday, the naira appreciated against the dollar across the foreign exchange markets.
