Nigeria's currency, the naira, saw an increase in value against the dollar in both official and parallel foreign exchange markets, concluding the week on a high note.
Data from the Central Bank of Nigeria revealed that the naira rose to N1,536.82 per dollar on Friday, up from N1,538.66 on Thursday. This reflects a daily gain of N1.84 in the official FX market.
In the parallel market, the naira also strengthened, reaching N1,550 per dollar on Friday, which is a N10 improvement from the N1,560 rate the day before.
According to DAILY POST, the naira experienced a decline for the third consecutive time in the official market on Thursday, while it remained stable in the parallel market.
Looking at the week overall, the naira depreciated by N7.47 per dollar in the official market, starting the week at N1,531.19. Conversely, it appreciated by N20 against the dollar in the parallel market throughout the week.
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