The naira continued its upward trend against the dollar in the official foreign exchange market.
FMDQ data revealed that the naira appreciated by N2.9, reaching N1593.62 per dollar on Thursday, compared to N1596.52 on Wednesday.
Earlier reports from New EN indicated that the naira had also strengthened in the black market, trading at N1610 per dollar on Thursday.
This signifies a positive performance for the naira in both the official and parallel foreign exchange markets on Thursday.
This development follows the Central Bank of Nigeria’s initiation of the Retail Dutch Auction System on Wednesday. The apex bank reported selling $876.26 million to 26 banks at a rate of N1495 per dollar on Wednesday
