The Naira appreciated to N1000 per US dollar as Monday’s foreign exchange market commenced.
According to the BDC operators, the Naira is expected to appreciate further below the N1000 per dollar mark during the week.
The Naira is selling between N1000 and 1050 per dollar on Monday and may likely appreciate further to below N1000 per dollar during the week.
The development is coming days after the Naira emerged as the best-performing currency in April, according to Goldman Sachs.
Recall that on Friday, the Naira gained N60 against the dollar after the Eid-el-Fitr holidays and for months now has continued its appreciation against the dollar.