The naira further appreciated against the dollar at official and parallel foreign exchange markets amid FX supply rises to end the week on a good note.

FMDQ data showed that the naira appreciated to N1652.62 per dollar on Friday from N1658.57 per dollar exchanged on Thursday.

This indicated that the naira gained N5.95 against the dollar compared to N1658.57 traded on Thursday.

In the last 48 hours, the naira has recorded a N35 gain against the dollar.

Similarly, the naira strengthened to N1750 per dollar at the black market on Friday from the N1755 exchange rate the previous day.

This comes as FX transaction turnover increased to $243.05 million on Friday from $163.66 million recorded on Thursday.

On the week-on-week analysis, the Naira lost N0.35 against the dollar compared to the N1652.25 exchange rate last Friday.

The Central Bank of Nigeria’s foreign reserves data showed the country’s external reserves rose to $40.277 billion as of November 20, 2024.