On Friday, the Naira closed at N1497.33 per dollar, appreciating from N1533.99 on Thursday.
By Johnson Atoukudu
The Naira experienced two appreciations and three depreciations over the past week amid the ongoing foreign exchange crisis.
On Friday, the Naira closed at N1497.33 per dollar, appreciating from N1533.99 on Thursday.
Specifically, the Naira appreciated to N1459.02 per dollar on Wednesday, May 15, and to N1497.33 per dollar on Friday, May 17.
Conversely, it depreciated to N1478.10 on Monday, May 13, N1520.40 on Tuesday, May 14, and N1533.99 on Thursday, May 16.
Over the last seven days, the Naira has lost N31.02 compared to its rate of N1466.31 per dollar last Friday.
Bureau De Change Operators attributed the Naira’s depreciation to insufficient foreign exchange allocation from the Central Bank of Nigeria.
Recently, the CBN approved 14 International Money Transfer Operators to enhance foreign currency remittances into Nigeria.
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