Business
Naira Sees Strongest Appreciation Against Dollar in Both Parallel and Official Markets
The naira recorded its highest appreciation against the dollar, ending the week on a positive note in both the parallel and official foreign exchange markets.
Exchange data from Bureau de Change operator, Abubakar Alhasan, in Wuse Zone 4 revealed that the naira closed at N1,595 per dollar on Friday, improving from N1,610 on Thursday. This marked a N15 gain for the naira in the black market.
In the official market, the Central Bank of Nigeria’s exchange data also indicated a positive shift, with the naira strengthening to N1,599.54 per dollar on Friday, from N1,601.82 on Thursday. This represented a N2.28 improvement on a daily basis.
Over the past three days, the naira has consistently appreciated against the dollar in both markets. On Tuesday, the naira opened the week following the Easter break at N1,610 and N1,602.63 per dollar in the parallel and official markets, respectively.
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