Naira appreciates against dollar at black market
The naira recorded significant appreciation against the dollar at the parallel market on Thursday.
Abubakar Alhassan, a bureau de change operator, told DAILY POST that the dollar-to-Naira exchange rate closed at N1,735 on Friday from N1,750 on Thursday.
Meanwhile, at the official market, FMDQ data showed that the naira weakened to N1672.69 against the dollar on Friday from N1644.86 traded on Wednesday.
This represents a N27.83 loss against the dollar.
This comes as the FX transaction turnover dropped to $254.10 million on Friday from $560.34 million the previous day.
In the week under review, the naira recorded a mixed fortune of two gains and three losses against the dollar at the FX market.
On a week-on-week basis, the naira depreciated by N20 when compared to the exchange rate of last Friday at N1,652.62 per dollar at the official market.
Naira appreciates against dollar at black market
