The national currency – Naira – appreciated against the dollar at the foreign exchange market on Friday to end the week on a positive note after nine days of poor showing.
FMDQ data showed that the Naira exchanged at N1,505.30 to the dollar on Friday, from N1,510.10 traded on Thursday.
The figure represents an N4.8 gain against the dollar compared to the N1,510.10 traded the previous day.
Similarly, the Naira witnessed a gain, and traded N1,515 against the dollar at the foreign exchange market on Friday.
This is the first time the Naira appreciated since June 18, 2024, when it traded at N1,482.72 per dollar in the official forex market.
The development comes as Nigeria’s external reserves rose to a record high of $34.07 billion as of June 26, 2024.
