Naira Closes Week With N1.13 Gain at Official Market

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The Naira on Friday closed the week positive with gain at the official market, trading at N1,346.49 to the U.S. dollar.

Data from the official website of the Central Bank of Nigeria (CBN) revealed that the Naira gained N1.13, representing a 0.08 per cent gain when compared to Thursday when it traded at N1,347.62 per dollar.

The Naira, which remained relatively stable due to ongoing CBN reforms, experienced only a day of depreciation within the week.

On Monday, it opened the trading week with appreciation when it traded at 1,349.53 to a dollar, while on Tuesday, the local currency further appreciated before recording minimal loss of 0.5 per cent on Wednesday.

However, the Naira recovered on Thursday with a gain of N2.79 before closing the week with further gain on Friday.

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