The Naira appreciated against the Dollar at both the official and black market foreign exchange rates to start the week.
According to data from FMDQ, the Naira strengthened to N1,580.46 per Dollar on Monday, up from N1,593.32 last Friday. This represents a gain of N12.86 against the Dollar compared to last week’s close.
In the parallel market, the Naira also gained ground, appreciating by N15 on Monday to trade at N1,655 per Dollar, down from N1,670 last week.
This appreciation comes as foreign exchange transaction turnover fell to $197.37 million on Monday, compared to $245 million recorded at the end of last week.
Last week, the Central Bank of Nigeria sold $20,000 to eligible Bureau De Change operators at an exchange rate of N1,580.
