Naira gains 0.2% at investors window

The nation’s currency on Friday appreciated in value against the US dollar after trading at the investors and export foreign exchange window.

After trading on Friday, the naira gained N0.84k against the dollar closing at N382.44k to the dollar, representing 0.22 percent compared to N383.28k traded the previous day.

At the inter-bank spot market, the local currency was quoted at the rate of N305.60k, the same level it was since two days ago, data from FMDQ show.  Naira also remained stable at the black market trading at N388 per dollar.

However, currency dealers expect the naira to appreciate further next week subject to forex injections into the market by the Central Bank of Nigeria (CBN).