Naira gains but black market decline continues
Naira clinched a meagre gain against the U.S. dollar at the official market on Friday, after it fell for two days.
The currency, which opened trading at N418.35 on Friday, closed at N419.02 to a dollar, data published by FMDQ, where forex is officially traded, revealed.
This implies a N1.31 or 0.31 per cent appreciation from N420.33 it exchanged on Thursday.
The naira experienced an intraday high of N410.00 and touched a low of N444.00 before closing at N419.02 per $1 on Friday.
ALSO READ: Naira sees big fall against dollar
Forex turnover recorded no significant movement with $75.56 million recorded at the close of business on Friday, the same rate posted in the previous session on Thursday.
In Uyo, currency dealers exchanged the naira at N602.00 and sold at N605.00 to a dollar on Friday.
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Naira clinched a meagre gain against the U.S. dollar at the official market on Friday, after it fell for two days.
The currency, which opened trading at N418.35 on Friday, closed at N419.02 to a dollar, data published by FMDQ, where forex is officially traded, revealed.
This implies a N1.31 or 0.31 per cent appreciation from N420.33 it exchanged on Thursday.
The naira experienced an intraday high of N410.00 and touched a low of N444.00 before closing at N419.02 per $1 on Friday.
ALSO READ: Naira sees big fall against dollar
Forex turnover recorded no significant movement with $75.56 million recorded at the close of business on Friday, the same rate posted in the previous session on Thursday.
In Uyo, currency dealers exchanged the naira at N602.00 and sold at N605.00 to a dollar on Friday.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Why women cheat: what every Nigerian man should know
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