The naira opened the week on Monday trading at N1,525/$1 in the black market, maintaining the same rate as last week’s close.
The Nigerian currency continued to hold its ground, closing Monday at the same rate it has maintained since last Thursday, remaining stable for three consecutive trading days.
Meanwhile, the naira appreciated against the euro, strengthening to N1,770/€1, compared to the previous rate of N1,795/€1, where the euro had been sold for N1,800/€1.
Similarly, the naira appreciated against the British pound, with the buy rate falling to N2,110/£1 from last Friday’s close of N2,115/£1. Its sell rate also dropped to N2,135/£1, from 2,140/£1.
In the official market, the naira remained relatively stable against the U.S dollar, closing at N1,533/$1, a slight depreciation from its previous close of N1,532/$1.
Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira fluctuating between N1,529/$1 and N1,535/$1 before settling at the NFEM rate of N1,532.54/$1 during Monday’s trading session.
