Naira appreciates as FX turnover declines on Thursday

The naira appreciated against the dollar at the close of business on Thursday on the foreign exchange market.

FMDQ data showed that the naira gained slightly to N 1593.93 per dollar on Thursday from N1606.56 recorded on Wednesday. This represents N12.63 appreciation.

Meanwhile, on the black market, the naira fell to N1625 per dollar on Thursday from N1620 on Wednesday.

This comes as the foreign exchange transaction turnover decreased by $155.52 million on Thursday from $160.94 million the previous day.