Naira Gains Massive 23% To Close The Week (SEE EXCHANGE RATE)

Naira Gains Massive 23% To Close The Week (SEE EXCHANGE RATE)

Within a week, the naira recorded a remarkable 23.51% appreciation against the dollar, concluding at N889.86/$ on the official Investors and Exporter window by Friday.

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This signifies a substantial gain of N209.19 from the previous week’s all-time low of N1,099.05/$, as reported by data from the FMDQ Securities Exchange.

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The preceding Friday marked a historical low for the naira, capping off a challenging period for the national currency.

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The rate of N1,099.05/$ represented the lowest official closing rate for the naira since the Central Bank of Nigeria adopted the I&E window as the designated trading platform.

On the most recent Friday, trading commenced at N901.12/$ and concluded at N889.86/$.

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