Naira appreciated slightly by 0.24 per cent against the United States dollar on the spot market segment on Friday to close at N462.33 per $1.
According to data published by FMDQ, where forex is traded officially, the domestic unit opened at N463.50 per $1 but closed at N462.33 on Friday amidst forex scarcity.
The naira traded within the range of N460.00 (high) and N467.00 (low) before it later recovered some grounds to close at N462.33 per dollar on Friday against the N463.42 recorded on Thursday.
The rate implies a N1.09 appreciation from N463.42 the naira closed officially on Thursday.
Within the business period Friday, the forex turnover recorded is $161.91 million.
In the past four months, the local currency has exchanged against the greenback at the official market within the range of N460 and above as the Central Bank of Nigeria continues to adjust rates in an effort to manage the surging demand of the hard currency and to close the spread between the official and unofficial markets.
At the unauthorised market on Friday, currency dealers in Abuja said the dollar was exchanged at N740.00 per $1 on Friday and Thursday.
“We were exchanging the currency at N738.00 since last week, but it climbed to N740.00 on Thursday and today,” a dealer said.
Credit – Taken from – https://www.premiumtimesng.com/business/business-news/598253-naira-gains-at-official-window-4.html
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