Nigerian Naira
The Nigerian naira appreciated against the U.S. dollar in the parallel market on Friday, closing at ₦1,610/$1, representing a gain of ₦20 from the previous day’s close of ₦1,630/$1.
The euro also weakened against the naira, closing at ₦1,655/€1, marking a 0.91% appreciation for the Nigerian currency.
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The British pound also experienced a slight depreciation against the naira, trading at ₦2,000/£1 on Friday, down from ₦2,010/£1 the previous day.
These developments come as the Central Bank of Nigeria (CBN) reported an official exchange rate of ₦1,493/$1 as of Thursday.
On Friday, the CBN rates indicated that the naira was trading at ₦1,507.40/$1 (buying rate) and ₦1,508.40/$1 (selling rate).
