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Naira appreciates at black market

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The domestic currency fell slightly at the official market.

Naira strengthened against the U.S dollar at the unofficial market on Thursday, data posted on abokiFX.com, a website that collates parallel market rates in Lagos, showed.Naira closed at N485.00 at the black market on Thursday, this represents N1.00 or 0.21 per cent appreciation from N486.00, the rate it exchanged hands with the greenback in the previous session on Wednesday.Meanwhile, the local unit fell slightly against the U.

The Naira experienced an intraday high of N401.10 and a low of N413.00, before closing at N409.30 on Thursday. This occurred as turnover increased slightly by 0.51 per cent, with $35.55 million recorded as against the $35.37 million posted on Wednesday.

 

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