Naira closes week with 16 kobo gain
The naira on Friday closed the week stronger, trading at N1,436.57 to a dollar at the official foreign exchange market.
Data from the Central Bank of Nigeria showed that the naira gained 16 kobo, compared with Thursday’s rate of N1,436.74.
This represents a 0.01 per cent gain.
The local currency which opened the trading week with slight depreciation, experienced weeklong fluctuations.
On Monday, November 3, the local currency traded at N1,436.34, losing N14.69 when compared to Friday, October 31, when it traded at N1,421.73.
However, the naira recovered on Tuesday, gaining N2.68 at N1,433.65 per dollar.
On Wednesday, it slightly weakened again, trading at N1,438.49 per dollar.
It made another quick rebound on Thursday, closing at N1,436.74, before ending the week stronger on Friday.
(NAN)
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