BREAKING: Naira Appreciates Massively At Official Market, See New Exchange Rate
the naira traded at N2,113.36/£1 against the British pound sterling, reflecting continued pressure from stronger currencies across major FX pairs
This marks an improvement from N1,607.0/$1 recorded last Friday, indicating a gain of N9.3 or 0.58% over the weekend.
In-day trading data showed the naira fluctuated between a high of N1,605.05/$1 and a low of N1,595/$1, with a simple average rate of N1,600.3/$1 at the Nigerian Foreign Exchange Market (NFEM).
Meanwhile, the naira traded at N2,113.36/£1 against the British pound sterling, reflecting continued pressure from stronger currencies across major FX pairs.
In the black market, the naira also showed signs of strength, appreciating slightly to N1,623/$1 on Monday from N1,630/$1 on Friday. This reduced the gap between the official and parallel market rates to just N25.3, one of the narrowest margins recorded in recent weeks.
