Naira appreciates further against dollar to end week on good note

The naira appreciated further against the dollar at the foreign exchange to end the week on a good note.

FMDQ data showed that the naira strengthened to N1631.21 per dollar on Friday from N1659.26 traded on Thursday.

This represents an N28.05 gain against the dollar.

Similarly, at the black market, the naira gained by N10 to N1670 on Friday from N1680 exchanged on Thursday.

This comes despite the drop in foreign exchange transaction turnover to $238.36 million on Friday from $450.39 million recorded on Thursday.

DAILY POST recalls that the Central Bank of Nigeria on Thursday introduced fresh FX code guidelines to stabilise the naira.

Similarly, the apex bank also introduced electronic FX matching to curb speculation.

Naira appreciates further against dollar to end week on good note