Naira Appreciates Against Dollar on Black Market

• The naira appreciated against the dollar at the parallel foreign exchange market on Tuesday, selling at N1,660 per dollar.
• This indicates a strengthening of the naira by N7 against the dollar, compared to Monday’s rate of N1,667.
• However, at the official market, the naira dipped further.

The naira strengthened against the dollar at the parallel foreign exchange market on Tuesday, according to a Bureau de Change operator in Wuse Zone 4, Abubakar Alhasan.

Alhasan told newsmen that the naira was sold at N1,660 per dollar on Tuesday, up from N1,667 on Monday.

READ ALSO: Naira appreciates to N1,650/$ in parallel market

However, at the official market, the naira dipped further, closing at N1,549.65 on Tuesday, from N1,548.89.

It was gathered that the naira has continued to decline against the dollar at the official market over the past few days.

Naira Depreciates Against Dollar At Official Market(See New Rates)

The naira ended the week on a negative note, depreciating against the dollar at the official foreign exchange market.

According to FMDQ data, the naira weakened to N1,543.03 against the dollar on Friday, losing N1.8 from N1,541.23 per dollar recorded on Thursday.

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