Naira appreciates against dollar

The naira appreciated against the dollar at the foreign exchange market at the close of business on Thursday.

FMDQ data showed that the naira strengthened to N1,658.57 per dollar on Thursday from N1,687.52 exchanged on Wednesday.

This represents a N28.95 gain against the dollar.

Meanwhile, at the black market, the naira fell to N1,755 per dollar on Thursday from the N1,750 exchange rate the previous day.

This comes as FX transaction turnover dropped $163.66 million at the close of Thursday from $173.29 million on Wednesday.

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DAILY POST reports that the naira depreciated at both official and black foreign exchange markets on Wednesday.

The last time the naira gained against the dollar at the official market was on Tuesday this week.

Naira appreciates against dollar