Naira gains N0.60 against dollar at official window

The Nigerian currency, the naira, recovered marginally against the American dollar at the official market on Friday.

The Central Bank of Nigeria (CBN) foreign exchange data showed that the naira appreciated to N1, 598.72/$1 as against N1, 599.32/$1 it traded on Thursday.

This represents a gain of N0.60 for the local currency.

On the black market, the naira gained N5 against the dollar to trade at N1,630/$1 as against the previous day’s rate of N1, 635/$1.

READ ALSO: Naira continues appreciation against dollar at official window

The naira closed flat against the British Pound to trade at N2,180/£1.

After several weeks of holding steady at N1,150/CA$1, the Canadian Dollar appreciated against the naira to trade at N1,200/CA$1, as against the previous N1,150/CA$1.

The naira lost N5 against the Euro to trade at ₦1,835/€1 as against the previous day’s rate of ₦1,830/€1.

By: Babajide Okeowo

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