Naira gains at official market as CBN moves to clear airlines’ forex backlog

Naira gained against the United States dollar at the authorised market on Monday, data published by FMDQ showed.

According to the data, the local currency closed at N856.57 per $1 at the official market on Monday as against N869.39 recorded in the previous session last Friday.

The rate implies a 1.5 per cent appreciation from the N869.39/$1 rate it traded on Friday last week and 5.9 per cent from the N907.11 to a dollar the currency stood at the close of business last year.

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