Naira recorded a meagre appreciation against the U.S. dollar at the official market as concerns on the Central Bank of Nigeria (CBN) stopping the sales of forex to commercial banks eased, IgbereTV reports.
Data recorded on the FMDQ website where forex is officially traded showed the local currency closed at N416.00/$1 on Friday.
This represented a 0.16 per cent or 67 kobo appreciation when compared with N416.67/$1 of the previous session at the Investors and Exporters (I&E) segment of the foreign exchange market.
The growth posted by the I&E window was buoyed by a low turnover of forex transactions, which stood at $84.65 million, 28.9 per cent or $25.1 million lower than the $109.75 million achieved a day earlier.
Similarly, at the Interbank market, data from CBN showed that Naira closed at N416.91to the US dollar compared to N417.51/$ it exchanged on Thursday last week.
On the same market, it was a flat trade between Naira and British pounds at N566.73/£1 and also remained unchanged against the Euro to settle at N477.42/€1.
It was also good performance for Naira at the parallel market as it gained N1 or 0.17 per cent to close at N573/$1 compared to N574/$1 it was transacted at the previous session
