Naira Appreciates to N1,483.99

 

The naira has gained against the dollar at the official foreign exchange market on Monday.

 

This is according to data released by FMDQ.

 

The naira appreciated slightly to N1,483.62 against the dollar on Monday from N1,483.99 traded last Friday.

 

This represents N0.37 gain compared to N1, 483.99 traded last Friday.

 

Similarly, at the parallel market section, the naira increased to N1,470 on Monday from N1,480 on Sunday.

 

This development comes despite that the foreign currency transaction turnover dropped to $161.69 from $2, 69.27 million on Friday.

 

Last week, the Nigerian government received a $925 million disbursement from Afrieximbank as part of its $3.3 billion emergency crude oil repayment loan to stabilise the country’s forex shortage.