Data from the Central Bank of Nigeria showed that the local currency gained N9.69.
The naira on Thursday appreciated at the official market, trading at N1,566.82 to the dollar.
“Also, there has been a drop in importation because things are really biting hard,” he said.
The naira on Monday appreciated against the dollar, exchanging at N741.50 at the investors’ and exporters’ window.
The naira depreciated by 0.67 per cent when compared with N768.17 for which it exchanged for the dollar at the close of business on Monday.
The naira depreciated by 0.66 per cent when compared with N765.13 for which it exchanged for the dollar on Thursday.
The naira on Monday depreciated against the dollar at the Investors and Exporters window, exchanging N770.38 to the dollar.
An exchange rate of N791 to $1 was the highest rate recorded within the day’s trading before it settled at N664.04.
The Central Bank of Nigeria (CBN) has authorised commercial banks and dealers to sell foreign exchange freely at a rate set by the market
This represents a 0.07 per cent decrease against the N463.33 to the dollar traded on Wednesday.
