The naira appreciated by N10.50 over the course of one week in the official foreign exchange market, supported by sustained liquidity conditions.
At the close of trading on Friday, the naira stood at N1,455.17 per US dollar, representing a 0.7 percent gain from the N1,465.67 recorded the previous Friday, according to data published by the Central Bank of Nigeria (CBN).
Over the five trading days, the local currency gained N15.09 or 1.04 percent from Monday’s rate of N1,470.26 to close the week at N1,455.17 per dollar at the Nigerian Foreign Exchange Market (NFEM). On a daily basis, the naira appreciated by N11.48 or 0.78 percent, strengthening from N1,466.65 on Thursday to N1,455.17 on Friday.