Business
Naira Gains N1, Exchanges At N485/$1
Nigeria’s naira gained against the U.S. dollar at the unofficial market on Thursday.
The data posted by Abokifx showed that the naira closed at N485.00 at the black market, this represents a N1 appreciation from N486, the rate it exchanged on Wednesday.
However, at the Investors and Exporter window, the official exchanged market Naira remained unchanged from Wednesday.
According to FMDQ Security Exchange data, Naira closed at N410.00 on Thursday.
Market participants during Thursday trading bid for dollar between N394.00 and N436.40 before closing at N410.
This happened as forex turnover rose by 169.23 percent, with $108.04 million recorded as against the $40.13 million on Wednesday.
At the end of trading on Thursday, the difference between the unofficial and the official market exchange rate dropped to $75
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