Nigeria’s currency, the naira, showed positive performance against the US dollar in both official and parallel markets at the close of the trading week.
Data from the Central Bank of Nigeria (CBN) revealed that the naira strengthened to N1,536.82 per dollar on Friday, up from N1,538.66 recorded on Thursday. This reflects a daily appreciation of N1.84 in the official forex market.
In the parallel market, the naira similarly appreciated, trading at N1,550 per dollar on Friday—a notable N10 improvement from N1,560 per dollar on Thursday.
Earlier in the week, GELOADED reported a third consecutive decline for the naira in the official market on Thursday, although stability was observed in the parallel market.
On a weekly comparison, however, the naira depreciated by N7.47 against the dollar at the official market, having started the week at N1,531.19. Conversely, in the parallel market, the currency recorded a significant weekly appreciation of N20 per dollar.
