The naira extends gains against the dollar in the official market

Nigeria’s currency, the naira, extended its gains against the American dollar at the official window on Thursday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,371.50/$1, compared with N1,376.19/$1 on Wednesday.

This represents a gain of N4.69 in local currency against the dollar.

On the black market, the naira rose N25 against the dollar, trading at N1,440/$1, compared with N1,465/$1 the previous day.

READ ALSO: Naira fetches N25.21 against dollar in official FX market

The local currency strengthened by N15 against the British Pound, trading at N1,900/£1, up from N1,915/£1 the previous day.

The naira closed flat against the Canadian dollar and traded at N1,000/CA$1.

It gained N10 against the euro, trading at ₦1,640/€1, compared with the previous day’s ₦1,650/€1.

Babajide Okeowo