Naira, on Friday, appreciated at the official section of the foreign exchange market.
Gatekeepers News reports that the naira gained 1.84 percent or N26.9 to close at N1,435 per dollar compared to the N1,461.90/$ rate reported on Thursday.
According to data from FMDQ Exchange, a platform that oversees foreign exchange (FX) trading in Nigeria, during trading, the dollar rate rose as high as N1,526 and as low as N891.
The naira, however, dropped to N1,410 per dollar at the parallel section of the market, depreciating by N10 or 0.71 percent from the N1,400/$ traded on Thursday.
The gap between the official and black market rates shrank to N25.53 — a drop from N61.90 on Thursday.
Meanwhile, the Central Bank of Nigeria (CBN) has removed the exchange rate cap placed on international money transfer operators (IMTOs).
