Naira strengthens against dollar in official market

The Naira saw a boost in value on Friday, trading at N1,666.72 to the dollar in the official market.

According to data from the FMDQ Exchange, which regulates Nigeria’s Autonomous Foreign Exchange Market (NAFEM), the Naira appreciated by N8.77. This marks a 0.52 percent increase from the previous day’s exchange rate of N1,675.49 to the dollar.

Daily trading turnover, however, declined to 94.20 million dollars, down from the 166.61 million dollars recorded on Thursday.

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Within the Investor’s and Exporter’s (I&E) window, the Naira fluctuated between N1,685.00 and N1,600.00 against the dollar.