Nigerian currency at the official market made a marginal gain to the US dollar amid a reduced demand for foreign exchange.
Data from FMDQ showed that the Nigerian currency recorded a marginal gain to close last trading day N416 to a dollar at the Investors and Exporters Window.
This implied a 0.06 per cent or 50 kobo appreciation when compared to the N416.50/$1 it closed on Thursday, 13 January 2022.
The strengthening of Naira happened on the back of a 28.7 percent or $49.59 million drop in forex demand.
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Data showed that transactions worth $123.4 million were carried out on Friday compared with the $172.99 million recorded at the previous session.
However, at the interbank window of the market, CBN data showed the Naira was unchanged in rate at N414.79/$1.
In the same vein, the domestic currency closed flat against the Pound Sterling on Friday at N565.57/£1 and also remained at N475.22 against the Euro.
Black market traders kept the exchange rate at N570 at the close of business on Friday.
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