- Safiu Kehinde
The Nigerian naira has appreciated against the U.S. dollar in the parallel market on Friday, closing at N1,610/$1.
Prior to the development, the naira stood at N1,630/$1 as the exchange closure on Thursday.
According to report, the euro also saw a drop, closing at N1,655/€1, marking a 0.91% appreciation of the naira against the European currency.
In the same vein, the British pound weakened slightly against the naira, trading at N2,000/£1 on Friday, down from N2,010/£1 the previous day—a 0.50% decline.
This coming after the Central Bank of Nigeria (CBN) earlier reported an official exchange rate of N1,493/$1 as of Thursday.
However, the apex bank on Friday, held that the rates indicated that the naira is trading at N1,507.40/$1 (buying rate) and N1,508.40/$1 (selling rate).