In the official foreign exchange (FX) market, the Nigerian naira has appreciated by 0.56 percent versus the US dollar, even though market participants have reduced the supply of dollars.
Stronger than N1,142.38 at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira was quoted at N1,136.04.
The intraday low closed solidly at N1,000, while the intraday high ended at N1,227 per dollar.
On Monday, the amount of dollars supplied by eager buyers and sellers fell by 10.57 percent to $251.60 million.
Before the week ended, Nigeria’s currency began to strengthen to N1,000, and on the black market, it reached N1,115.
