Foreign exchange: Naira appreciates against dollar at official, parallel markets


The Naira ended the week by appreciating marginally against the dollar in the official and parallel foreign exchange markets.

FMDQ data at the close of Friday showed that the Naira exchanged at N1400.40 per Dollar from N1402.67, which it traded on Thursday.

This represents a 2.27 gain against the Dollar on Friday compared to N1402.67 per Dollar the previous day.

Similarly, at the parallel market, the Naira appreciated by N50, trading at N1,290 per dollar on Friday compared to N1,340 on Thursday.

Meanwhile, on a week-on-week basis, the Naira lost N63.44 against the Dollar compared to the N1339.23 traded on April 26, 2024 at the official market.

The National President of Bureaux de Change Operators in Nigeria, Aminu Gwadabe, recently said in an interview that harmonization of the retail end of forex and continued collaboration with the Central Bank of Nigeria will bring down the Naira to below N1,000 per dollar mark at the FX market.

Post a Comment