Naira clinched a slight gain against the U.S. dollar at the official market on Monday, after the domestic currency recorded a decline for five consecutive days last week.
The currency closed at N416.26 to a dollar at the close of trade on Monday, data published on the Central Bank of Nigeria‘s website showed.
This translates to a N0.07 or 0.02 devaluation from N416.33 it was exchanged in the previous session on Friday last week.
It reached an intraday high of N414.26 and hit a low of N415.26 before closing at N416.16 at the close of trade on Monday.
READ ALSO: Naira’s fall continues at black market, hits new low
However, during the last week’s business days, naira closed at N415.64 to a dollar on Monday, N415.82 on Tuesday, N415.99 on Wednesday, 416.16 on Thursday and 416.33 on Friday respectively, naira trade records published by the apex bank showed.
Currency traders at the Abuja street market (black market) said the naira exchanged hands with the hard currency at N567.00 per $1 on Monday and was sold at N569.00 per $1.
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