Barely 24 hours after devaluation, the Naira strengthened vs the dollar on the foreign currency market.
The N1497.33 strengthened against the US dollar on Friday, according to FMDQ statistics.
In relation to the N1497.33 exchanged on Thursday, this indicates a gain of N33.66 against the US dollar.
Comparably, the Naira strengthened against the dollar in the parallel market, moving from N1555 on Thursday to N1475 on Friday.
This demonstrated that, despite days of loss, the Naira finished the week well.
After experiencing months of appreciation in mid-April, the nation’s currency has remained unstable.
In the meantime, the Bureau De Change Operators attributed the Naira’s continuous devaluation to a lack of foreign exchange. [CONTINUE READING HERE]
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