Naira, on Monday, 5th February 2024, gained against the dollar at both the official and black market.
Gatekeepers News reports that the local currency appreciated marginally at the end of the day by 1.10% to close at N1,419.86 to a dollar at the close of business, data from the NAFEM where forex is officially traded, showed.
This represents an N15.67 gain or a 1.10% increase in the local currency compared to the N1,435.53 closed on Friday.
The intraday high recorded was N1526/$1, while the intraday low was N906/$1, representing a wide spread of N620/$1.
According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $440.13 million, the same as what it was closed the previous day.
However, the naira also closed with a gain at the parallel forex market where forex is sold unofficially, the exchange rate quoted at N1,455/$1, an increase of 3.09% against N1,500 it closed the previous day, while peer-to-peer traders quoted around N1456/$1.
