Naira Records Marginal Appreciation Against Dollar in Forex Markets
The Naira appreciated marginally against the dollar in both the official and parallel foreign exchange markets on Friday.
According to FMDQ data, the Naira exchanged at N1400.40 per Dollar on Friday, up from N1402.67 on Thursday, representing a 2.27 gain against the Dollar.
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Similarly, at the parallel market, the Naira appreciated by N50, trading at N1,290 per dollar on Friday compared to N1,340 on Thursday.
Meanwhile, on a week-on-week basis, the Naira lost N63.44 against the Dollar compared to the N1339.23 traded on April 26, 2024 at the official market.
The National President of Bureaux de Change Operators in Nigeria, Aminu Gwadabe, recently told a media house in an exclusive interview that harmonization of the retail end of forex and continued collaboration with the Central Bank of Nigeria will bring down the Naira to below N1,000 per dollar mark at the FX market.
