Naira Strengthens Against USD at Official Market

The Nigerian Naira strengthened against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, September 21. The currency gained N1.48 or 0.11 per cent to trade at N1,329.80/$1 from N1,331.20/$1.

However, it weakened against the Pound Sterling in the same market window by N9.84 to close at N1,781.00/£1 compared with the previous session’s N1,771.16/£1.

The Nigerian currency also lost 78 Kobo on the Euro to sell for N1,527.14/€1 versus last Friday’s rate of N1,526.36/€1.

In contrast, the Naira gained N1 against the US Dollar at the GTBank forex desk yesterday to settle at N1,337/$1, in contrast to the previous trading day’s N1,338/$1.