Naira appreciates against Dollar to end the week on good note

The Naira appreciated against the Dollar at the foreign exchange market to end the week on a positive note.

FMDQ data showed that the Naira gained at N1570.14 per dollar on Friday from N1586.11 exchanged on Thursday.

This represents a N15.97 gain against the dollar compared to N1586.11 exchanged on Thursday.

Similarly, at the black market, the naira appreciated to N1615 per dollar on Friday from N1620 exchanged the previous day.

Figures from both the official and black markets showed that the naira strengthened at N15.97 and N5, respectively.

A further analysis showed that the naira ended the week at N5.66 less than the N1,564.48 per dollar exchange rate recorded last Friday.

DAILY POST recalls that the fell by N42.27 against the Dollar to close at N1586.11 on Thursday. https://dailypost.ng/2024/08/22/naira-slumps-massively-against-dollar-24-hour-after-gain/

This comes on the back of the Central Bank of Nigeria Retail Dutch Auction System regime.