Lagos: Nigeria’s currency gained ground Friday, settling at N1,366.23 per dollar in the official market.
According to data published on the Central Bank of Nigeria (CBN) website, the Naira gained N5.27 during Friday’s trading session.
The development reflects a 0.3 per cent increase from Thursday’s closing rate of N1,371.50 to the dollar.
Throughout the week, the Naira appreciated steadily as sustained market activity and foreign exchange supply persisted.
At the start of trading on Monday, the Naira traded at N1,405.62 per U.S. dollar.
The currency strengthened slightly on Tuesday, closing at N1,401.40 in the official market.
By Wednesday, the Naira improved further, trading at N1,376.19 to the dollar. Analysts said the gradual appreciation indicates improving stability in the official foreign exchange market.
