Naira Opens Week Bullish, Appreciates at Black Market

By Dipo Olowookere

The Naira opened the first trading day of the week strong on Monday at the parallel segment of the foreign exchange market.

The local currency appreciated against the Dollar and the Euro at the black market, but traded flat against the Pound.

Business Post reports that the Nigerian legal tender went up by N1 against the US Dollar, selling for N363 per Dollar against N364 it went for last Friday.

In the same vein, the Naira garnered N2 against the Euro, trading at N428 to the Euro in contrast to N430 it was exchanged last week.

However, the local currency remained the way it traded at the black market last Friday against the Pound, N480.