Naira closes Monday trade strong against UK pound, Euro

On the black market on Monday, the naira climbed against the pound and euro, while the dollar exchange rate remained unchanged from the previous trading session.

Nigerian currency closed Monday at N411.50 per $1, the same value it traded at on Friday last week, according to data posted on the FMDQ Security Exchange, where Naira is legally exchanged.

This occurred as forex turnover increased by 3.11 percent to $139.49 million at the end of the market session on Monday, up from $135.28 million the previous session on Friday last week.

The Naira had a mixed day in the unregulated foreign exchange (FX) market yesterday. While it rose against the Pound Sterling and the Euro, it remained stable against the US dollar.

Read also: Naira gains against the dollar, British pound, Euro after Sallah holidays

Data from abokifx shows naira closed at N504.00 per $1 on Monday, the same rate it traded in the previous session on Friday last week.

Against the British currency, the Naira regained the N2 it lost Friday to close at N705/£1 compared to Friday N703/£1.

The Naira also strengthened against the Euro to close at N592/€1 from N595/€1 on Friday last week.

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