Naira Appreciates at Interbank Market

The Naira, at the Interbank market, on Thursday gained 80 kobo to the dollar, the Central Bank of Nigeria (CBN) says.

The apex bank, in a statement in Lagos, said that the Naira closed at N185.50 from the N186.30 recorded on Wednesday.

 

The News Agency of Nigeria (NAN) reports that the appreciation may be due to regular intervention at the interbank and foreign exchange markets by CBN.

 

The Naira had experienced a downward trend due to the drop in oil prices at the international market.