Naira gains 3.59%, closes at N1,600.78/$

The Naira strengthened on Friday, closing the week at N1,600.78 to the dollar in the official market.

Data from the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira appreciated by N59.71, a 3.59 per cent gain compared to Thursday’s rate of N1,660.49 per dollar.

Also, total daily turnover increased to 350.72 million dollars on Friday, up from 330.18 million dollars on Thursday.

At the Investors and Exporters (I&E) window, the Naira traded between N1,671.50 and N1,592 against the dollar.