The naira extended its recovery against the dollar at the official window, gaining N9.70

Nigeria’s currency, the naira, appreciated further against the US dollar at the official window on Monday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,365.24/$1, compared with N1,374.94/$1 on Thursday.

This represents a gain of N9.70 for the local currency against the American dollar.

On the black market, Nigeria’s currency, the naira, strengthened by N3 against the American dollar and traded at N1,400/$1 compared to the previous day’s rate of N1,402/$1.

The local currency lost N5 against the British Pound, trading at N1,880/£1, compared with N1,875/£1 the previous day.

Also read: NGX: Investors gain N64 billion as equity markets start the week on a positive note

The Naira closed flat against the Canadian dollar and traded at N1,100/CA$1 the same as the previous day’s exchange rate of N1,100/CA$1.

The naira lost N5 against the euro, trading at ₦1,625/€1, compared with the previous day’s ₦1,620/€1.

By: Babajide Okeowo