Nigerian currency the Naira appreciated against the US Dollar on Monday, 15th January 2024 at the official market but dropped slightly at the parallel market.
Gatekeepers News reports that data from the NAFEM where forex is officially traded, showed that appreciated 5.79% to close at N838.95 to a dollar at the close of business.
This represents an N51.79 gain or a 5.79% increase in the local currency compared to the N869.13 closed the previous day.
However, the naira depreciated at the parallel forex market where forex is sold unofficially, the exchange rate quoted at N1265/$1, representing a 0.40% decrease over what it closed the previous day, while peer-to-peer traders quoted around N1296.32/$1.
