June 4, 2024.
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Nigerian naira on Monday appreciated against the US dollar at the official foreign exchange (FX) market, despite a drop in the dollar sales.
The domestic currency gained against the greenback during the session by 0.7 per cent or N28.34 to exchange at N1,476.12 /$1 compared with the N1,485.99/$1 it was transacted last Friday.
Data showed a decline in the supply of forex into the spot market yesterday by 42.9 per cent or $91.55 million to $121.87 million from the $213.52 million recorded in the last trading session.
At the parallel market also known as black market, Nigerian Naira weakened against the American Dollar during the trading session by N10 to sell for N1,500/$1 compared with the preceding trading day’s N1,490/$1.
The domestic currency, however, closed flat against the Pound Sterling in the official market on Monday at N1,877.92/£1 but appreciated against the Euro by N14.48 to trade at N1,613.44/€1 versus N1,598.96/€1.(www.naija247news.com).
