Naira Gains At Official Market

Naira gained slightly against the U.S. dollar at the official market on Friday, data posted on the FMDQ Security Exchange where forex is officially traded showed.

However, the local currency remained stable at the black market.

According to FMDQ, the currency closed at N411.67 per $1 on Friday, a 0.01 appreciation from the N411.71 rate it traded in the previous session on Thursday.

The currency reached an intraday high of N400.00 and a low of N412.00 during the trading session before settling at N411.67 at the close of business on Friday.

Forex supply decreased 57 per cent with $57 million recorded as against the $132 million posted in the previous session on Thursday.

According to abokiFX.com, which collates parallel market rates in Lagos showed, naira remained stable at the parallel market segment on Friday.

The currency closed at N520.00 per $1, the same rate it traded in the previous session on Thursday.

-Premium Times

About Don Saint

PR Guru / Author / Promoter / Controversial Writer / Hip Hop Artiste / Actor / Human Rights Activist. The First Nigerian Hip Hop Artiste to obtain a Masters Degree (M.A) in Arts ( Religion & Human Relations). The author of one of the most controversial books in Nigeria; "Emancipation from Masturbation". With over 12 Movies and 3 Musical albums since 2003. Former Events Manager at Silverbird’s Rhythm Fm Awka Station till 2010. For more info. Call : 08033239298.

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