By Peter Omopo
The Naira appreciated slightly against the U.S. Dollar on Friday, closing the trading week on a positive note at the official foreign exchange market.
According to figures from the Central Bank of Nigeria (CBN), the local currency gained N0.60k to trade at N1,598.72 per dollar, up from N1,599.32 recorded on Thursday. This reflects a 0.03 per cent appreciation.
The Naira had shown signs of resilience earlier in the week, posting consecutive gains. It rose by 0.02 per cent on Tuesday and recorded a stronger appreciation of 0.21 per cent on Wednesday.
The modest gains are seen as indicators of improved investor sentiment and increased foreign exchange supply, contributing to ongoing efforts by monetary authorities to stabilise the local currency.
