NAIRA APPRECIATES AGAINST DOLLAR AT OFFICIAL FOREX MARKET

Data released by the Financial Markets Dealers Quotations, FMDQ shows that naira has continued to appreciate against the dollar at the official foreign exchange market, gaining N2.9 at N1593.62 per dollar on Thursday from the N1596.52 exchanged on Wednesday.

 Analysts say the data shows that the naira had a positive performance yesterday at both official and parallel foreign exchange markets.

The development comes as the Central Bank of Nigeria commenced, the Retail Dutch Auction System, where it sold $876.26 million to 26 banks at an N1495 per dollar rate.