The Nigerian naira strengthened for three consecutive days against the dollar in the parallel foreign exchange market, closing the week on a positive note on Friday.
This comes as a Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, told Daily Post that the naira strengthened to N1,565 per dollar on Friday, up from N1,570 on Thursday.
On a day-to-day basis, the naira gained N5 against the dollar compared to the N1,570 traded on Thursday.
Recall that in the last three days, the naira has gained N15 against the dollar in the black market.
In contrast, in the official market, the naira continued to depreciate as of Thursday, according to data from the Central Bank of Nigeria.
The apex bank’s exchange rate data showed that the naira fell to N1,507.88 per dollar on Thursday from N1,504.30 on Wednesday.
Overall, exchange rate movements across FX markets showed that the naira ended the week with mixed sentiments of losses and gains against other foreign currencies.
