Naira Rises Against Dollar At Official FX Market

At the official foreign exchange market, the value of the naira against the dollar kept rising.

According to FMDQ statistics, on Thursday, the naira appreciated N2.9 to N1593.62 per dollar, compared to Wednesday's N1596.52 exchange rate.

The naira rose against the dollar on Thursday, according to a report earlier by Bizwatch Nigeria, and it was trading for N1610 on the black market.

This demonstrated that the naira performed well on Thursday in the parallel and official foreign exchange markets.

This comes as the Nigerian Central Bank launched the Retail Dutch Auction System on Wednesday. The Apex Bank claims that on Wednesday, it sold $876.26 million to 26 banks at a rate of N1495 per dollar.