The foreign currency market opened on Monday with Nigerian naira gains starting 5.93 percent higher on the black market.
As opposed to N1,430 on Friday, the local currency was worth N1,350 when converted to the US dollar.
The increase came after the demand for the dollar, which was in short supply on Friday because of the lack of dollars, moderated.
The naira fell by 2.24 percent in the Nigerian Autonomous Foreign Exchange Market (NAFEM). While the intraday low increased to N1,051 per dollar, the intraday high finished at N1,410 per dollar.
On Friday, the amount of dollars offered by eager buyers and sellers decreased slightly by 2.85% to $309.01 million.
Naira gains is a boost to foreign business men and women.
