The naira fetched N1.44 to the dollar at the official window

Nigeria’s currency, the naira, appreciated against the United States dollar at the official window on Thursday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,342.30/$1, compared with N1,343.70/$1 on Wednesday.

This represents a gain of N1.44 for the local currency against the dollar.

On the black market, the naira fetched N2 against the dollar and traded at N1,400/$1 compared to the previous day’s rate of N1,403/$1.

The local currency strengthened by N5 against the British Pound, trading at N1,890/£1, compared with N1,895/£1 the previous day.

The Naira closed flat against the Canadian dollar and Euro trading at N1,100/CA$1 and ₦1,615/€1 respectively.

Babajide Okeowo