Business News

Naira Trades N1,278/$1 at NAFEX, N1,250/$1 at Black Market

naira official market

By Adedapo Adesanya The Naira showed resilience against the US Dollar in the black market and the Nigerian Autonomous Foreign Exchange Market (NAFEM) segments of the foreign exchange (FX) market on Tuesday. It appreciated against the greenback after the Easter break by 2.4 per cent or N30.81 in the official market to N1,278.00/$1 compared with last Thursday’s closing price of N1,309.39/$1. Also, the Naira gained N110.00 against the Pound Sterling in the spot market yesterday to sell at N1,680.88/£1, in contrast to the preceding session’s N1,790.98/£1, and against the Euro, it was strengthened by N97.86 to close at N1,437.09/€1 versus