Naira strengthens against some foreign currencies

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The naira has appreciated slightly against the dollar at official and parallel markets.

A report in the Vanguard indicated that the naira was sold at N155.24 against the dollar at official market against the N155.22 offered last week.

The report further said, “It (naira) was exchanged at N169.50 at Bureau de Change (BDCs) on Friday against the N170 recorded last week. The naira was, however, stable at N170 to the dollar at the black market, the same amount it sold for last week”.

It continued, “The naira also appreciated against the pound sterling at the official market this week, trading at 255.01 against N255.47 it was offered last week. It also appreciated against the pound sterling at the BDC, trading at N269 to the pound sterling.”

It concluded, “The naira was stable against the euro at the BDC, selling at N230.50 25, the same rate it was sold last week”.

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