Business
Naira Appreciates by N14.94 Against Dollar in Official, Black Market
According to data from the Central Bank of Nigeria (CBN), the naira closed at N1,532 per dollar, up from N1,545 on Wednesday.
Similarly, data from FMDQ indicated that the naira strengthened to N1,534.35 per dollar on Thursday, compared to N1,549.29 the previous day, marking an appreciation of N14.94 against the dollar.
In the parallel market, the naira also gained, trading between N1,640 and N1,680 per dollar, down from N1,710 on Wednesday, according to Abubakar Alhassan, a Bureau de Change operator in Wuse 4, Abuja.
EKO HOT BLOG reports that the naira has experienced fluctuations throughout the week, following the recent launch of the Electronic Foreign Exchange Matching System (EFEMS) by the CBN, which aims to promote more transparent FX transactions.
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