Naira Surges 0.25% to N1,364.83/$1 Amid Increased Interbank FX Transactions

The Nigerian Naira has begun the week on a strong note by appreciating against the US Dollar at the official market. On Monday, August 3, it rose to N1,364.83/$1 from N1,368.22/$1 recorded last Friday, marking an increase of N3.39 or 0.25 per cent.

However, in contrast, the Naira experienced a marginal decline against the Pound Sterling and Euro at the official market. Against the Pound, it sold for N1,837.89/£1 compared to N1,837.79/£1 of the preceding session, while against the Euro, it was traded flat at N1,573.93/€1.

At the black market segment, the Naira maintained its stability against the Dollar, trading at N1,405/$1, and GTBank forex counter remained unchanged at N1,374/$1.