Naira ends week stronger at N1,366.23 against U.S. dollar
The naira on Friday closed the week on a positive note, appreciating at the official market to settle at N1,366.23 against the U.S. dollar.
Data published on the website of the Central Bank of Nigeria (CBN) showed the naira gained N5.27 during Friday’s trading session.
The development reflects a 0.3 per cent increase compared with Thursday’s closing rate of N1,371.50 to the dollar.
The Nigerian currency had recorded steady appreciation during the week amid sustained market activity and foreign exchange supply.
At the start of trading on Monday, the naira exchanged at N1,405.62 against the U.S. dollar.
The currency strengthened slightly on Tuesday to close at N1,401.40 in the official market.
By Wednesday, the Naira improved further, trading at N1,376.19 to the dollar.
Market analysts said the gradual appreciation indicates improving stability in the official foreign exchange market.
(NAN)
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