Business News

Naira Firms to N1,262/$1 at Official Market, N1,245/$1 at Parallel Market 

naira official market

By Adedapo Adesanya The Naira extended its bullish performance at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday after it appreciated against the greenback by 1.2 per cent or N15.73. Data obtained by Business Post from the FMDQ Securities Exchange indicated that the local currency was traded against the US Dollar at midweek at N1,262.85/$1, in contrast to Tuesday’s closing value of N1,278.58/$1. An improvement in the supply of foreign exchange (FX) into the market helped with the strengthening of the Nigerian currency in the spot market yesterday. FX transactions worth $166.18 million were completed in the official market during the