Naira appreciates against the dollar at black, official FX markets

The Naira appreciated further against the Dollar at both foreign exchange markets to begin the week.

FMDQ data showed that the Naira strengthened to N 1580.46 per dollar on Monday from N 1593.32 last Friday.

This represents an N12.86 appreciation against the dollar compared to the N1593.32 at the close of last week.

Similarly, the Naira dropped by N15 at the black market on Monday to N1655 per dollar from N1670.

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This comes as foreign exchange transactions turnover dropped to $197.37 million on Monday from $245 million last week.

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Recall that last week, the Central Bank of Nigeria sold $20,000 to legible Bureau De Change operators at N1580 exchange rate.