Naira Appreciates Against Dollar At Official Market
The naira appreciated against the dollar at the official foreign exchange market on Tuesday.
The Central Bank of Nigeria’s exchange data showed that it gained slightly against the dollar, rising to N1,599.70 on Tuesday from N1,599.94 on Monday.
This means that Nigeria’s currency, the naira, strengthened marginally by N0.20 per dollar on a day-to-day basis. Unlike on Monday, the naira firmed up against the dollar on Tuesday at the official market.
However, the naira remained flat at N1,605 per dollar at the black market on Tuesday, the same selling rate recorded on Monday.
A Bureau de Change operator in Wuse Zone, Abuja, Abubakar Alhasan, confirmed to DAILY POST that the buying rate of the dollar on Tuesday stood at N1,605 per dollar.
“We buy dollars at N1,600 and sell at N1,605,” Alhasan told DAILY POST on Tuesday.
Recall that DAILY POST reports that the naira has recorded stability since last week and began this week with further gains at the black market.
