Business News

Pressure Eases on Naira, Gains 2.4% at Official Market

print Naira massively

By Adedapo Adesanya The Naira regained strength against the American Dollar on Friday in the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official foreign exchange (FX) market in the country. Data obtained by Business Post showed that the local currency improved its value on the US Dollar yesterday by 2.4 per cent or N36.66 million to exchange at N1,497.33/$1 compared with Thursday’s closing price of N1,533.99/$1. However, the Nigerian currency weakened against the Pound Sterling in the spot market during the session by N52.47 to wrap the final trading day of this week at N1,937.00/£1 versus the preceding day’s