Naira recovers at official, parallel markets
by The Eagle Online · The Eagle OnlineThe Naira on Monday opened the month of August on a positive note at the official market, trading at N1,364.83 to a dollar, while it did the same at the parallel market over the weekend.
Available data from the official website of the Central Bank of Nigeria (CBN) revealed the Naira gained N3.38 at the official market.
This represented a 0.2 percent gain when compared to Friday when it traded at N1,368.22 per dollar.
The Naira, which experienced weeklong depreciation the previous week, made its first recovery on Monday.
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It also appreciated to N1,408 per dollar in the parallel market from N1,415 per dollar last weekend.
This narrowed the margin between the parallel and official markets to N43 per dollar from N47 per dollar on last week Friday.
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