Naira gains N2.01 against dollar at official window

The Nigerian currency, the naira, appreciated against the American dollar at the official window on Friday.

The Central Bank of Nigeria (CBN) foreign exchange data showed that the naira closed at N1, 532.51/$1 as against the N1, 534.52/$1 it traded on Thursday.

This represents a gain of N2.01 for the local currency against the American greenback.

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On the black market, the naira gained N5 against the dollar to trade at N1,550/$1, as against the previous day’s rate of N1,555/$1.

The local currency gained N5 against the British Pound to trade at N2,110/£1 as against the previous day’s rate of N2,115/£1.

It, however, continued to close flat against the Canadian dollar to trade at N1,200/CA$1.

The naira gained N10 against the Euro to trade at ₦1,790/€1 as against the previous day’s rate of ₦1,800/€1.

Babajide Okeowo

Source: RipplesNigeria | Read Full Story…