Naira begins week with depreciation
The naira continued its appreciation streak against the dollar at the official foreign exchange market.
FMDQ data showed that the naira gained N2.9 at N1593.62 per dollar on Thursday from the N1596.52 exchanged on Wednesday.
OSMEK NEWS gathered that the naira had strengthened against the dollar on Thursday to trade at N1610 on the black market.
This showed that the naira had a positive performance on Thursday at both official and parallel foreign exchange markets.
The development comes as the Central Bank of Nigeria commenced, the Retail Dutch Auction System on Wednesday. According to the apex bank, it sold $876.26 million to 26 banks at an N1495 per dollar rate on Wednesday.
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