Naira Strengthens Against Major Currencies Amid Stronger Reserves
The Nigerian Naira has strengthened against major currencies in various markets, according to recent data. On September 11th, it appreciated by 0.13% against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) to trade at N1,326.52/$1.
In the official market, the Naira also improved its value against the Pound Sterling by N5.70 to close at N1,792.52/£1 compared to Thursday's rate of N1,798.22/£1.
Furthermore, it gained N13.75 against the Euro to trade at N1,540.22/€1 versus Thursday's N1,540.99/€1.
In the black market, the Naira firmed up against the greenback by N5 to close at N1,370/$1 compared with the preceding session's rate of N1,375/$1.
At the GTBank FX desk, it appreciated by N10 to sell for N1,330/$1 in contrast to the previous day's rate of N1,340/$1.