The Nigerian Naira closed the trading week on a positive note, appreciating by 4.52 kobo against the U.S. dollar at the official market on Friday.
According to the latest figures released by the Central Bank of Nigeria (CBN), the local currency traded at ₦1,534.72/$, reflecting a 0.05% gain compared to Thursday’s closing rate of ₦1,534.79/$.
Although the Naira experienced marginal losses earlier in the week—trading at ₦1,535.24 on Tuesday and ₦1,535.62 on Wednesday—it recovered steadily towards the end of the trading period.
The week had opened with a minor dip of 20 kobo on Monday, but Friday’s performance has renewed optimism, particularly for importers hoping for more stable exchange rates.
Market analysts suggest that the recent gains may signal a positive trend in foreign exchange liquidity, though they caution that sustained stability will depend on broader economic policies and global market conditions.
Comments