Naira Strengthens, Gains ₦8.46 at Official Market

Lagos:  The Naira on Monday appreciated further at the official foreign exchange market, closing at ₦1,357.76 to the U.S. dollar, a gain of ₦8.46 from the previous trading session, according to figures from the FMDQ Exchange.

Data published on the website of the Central Bank of Nigeria (CBN) showed the Naira gained N8.46 during Monday’s trading session.

The development reflects a 0.6 per cent increase from Friday’s closing rate of N1,366.23 to the dollar.

The Nigerian currency has recorded steady one-week appreciation amid sustained market activity and foreign exchange supply.