LAGOS, Nigeria(VOICE OF NAIJA) – Nigeria’s currency exhibited a slight improvement against the United States dollar at the official market on Friday, based on data obtained from the FMDQ website, which serves as a reliable source for official exchange rates.
The data revealed that the local currency concluded trading at the spot market window at a rate of N755.27 per $1 on Friday. This rate indicates a commendable appreciation of N20.04 or 2.6% compared to the previous session’s figure of N775.31 per $1, recorded on Thursday.
Throughout the day, the US dollar witnessed fluctuations, reaching an intra-day high of N700.00 and declining to a low of N799.90 on Friday, before ultimately settling at N755.27, the data revealed.
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During the given business period, forex turnover experienced a 12% decrease, amounting to $127.82 million, in contrast to the $144.55 million recorded in the preceding market session on Thursday.
Meanwhile, the naira displayed stability in the parallel market on Friday, according to data published on AbokiFX, a reputable website known for collating parallel market rates in Lagos.
The data from AbokiFX indicated that, despite the prevailing scarcity and surging demand for the US dollar, the naira was traded at N1000 per dollar and sold at N1008 per $1 in the black market segment on Friday.
