Nigerian currency the naira on Friday, appreciated against the dollar as it closed at N791/dollar at the official market, bringing sanity to the market, which has fluctuated for several months now.
According to data from the Nigerian Autonomous Foreign Exchange Market, where forex is officially traded, the domestic currency appreciated 6.24 percent to close at N791.75 to a dollar at the close of business on Friday. Representing N49.39 gain or a 5.24 percent increase in the local currency compared to the N841.14 it closed on Thursday.
The intraday high recorded was N1120/$1, while the intraday low was N701/$1, representing a wide spread of N419/$1.
Similarly, the naira has appreciated in the parallel market in the last 72 hours.
Aboki FX, another FX platform, the naira maintained its consistency even as it appreciated marginally against the United States dollar.
While the market closed at N1140, on Monday at the parallel market, it appreciated on Tuesday and closed at N1,135.
The parallel market, however, maintained consistency by closing at N1,135 on Wednesday and Thursday.
