Naira Gains Against Dollar In Black Market, Nafem, Sept 1

The naira appreciated against the US dollar on Monday, September 1, recording a marginal gain in both the parallel and official foreign exchange markets.

Currency traders in Abuja told Economic Confidential that the naira exchanged at ?1,530/1 for buying and ?1,540/1 for selling, compared to Friday's close of ?1,550/1, representing a ?10.33 appreciation.

Similarly, at the Nigerian Foreign Exchange Market NAFEM, the naira retained its strength on Monday at ?1,531/1, unchanged from Friday's closing rate.