The Nigerian currency, the naira, ended the impressive week with three days of gains against the United States of America’s dollar.
Thehttps://www.cbn.gov.ng/rates/ExchRateByCurrency.html Central Bank of Nigeria’s data showed that the naira strengthened to N1,532.51 against the dollar on Friday from N1,534.52 traded on Thursday.
This means that the Naira gained N2.01 against the dollar on a day-to-day basis.
Similarly, at the black market, the Naira appreciated by N5 to N1,560 per dollar on Friday, up from N1,565 exchanged the previous day.
On a week-on-week basis, the Naira firmed up by N1.05 and N5 against the dollar at official and parallel foreign exchange markets, respectively.
The development comes as the National Bureau of Statistics on Friday said Nigeria’s inflation dropped to 21.88 percent in July from 22.22 the previous Month.
