The Nigerian naira recorded marginal appreciation at both the official and parallel markets by the end of November, according to data from FMDQ and Bureau de Change (BDC) operators.
In the official market, the naira strengthened against the dollar by 0.17%, improving from an opening rate of N1,675.49/$1 at the start of the month to N1,672.69/$1 by month-end.
Similarly, in the parallel market, the naira appreciated by 0.40%, moving from N1,750/$1 at the beginning of November to N1,743/$1 by the end.
The naira’s appreciation in the parallel market extended to other key currencies, gaining 1.76% against the pound to close at N2,230/£1 and 1.88% against the euro, closing at N1,830/€1 by the end of the month.
Key data points
Official market performance
Parallel market performance