The Nigerian naira sustained its appreciation against the US dollar on Friday, strengthening to N1,337.28 per dollar at the official foreign exchange market.

Data from the Central Bank of Nigeria (CBN) showed that the naira gained N1.29, representing a 0.09 per cent appreciation from Thursday’s closing rate of N1,338.58 per dollar.

The latest gain extends the currency’s upward movement, with the naira recording appreciation throughout the trading week.

Following the Eid-el-Maulud public holiday on Tuesday, the naira resumed trading on Wednesday at N1,343.59 per dollar. It strengthened by N5.01 on Thursday to close at N1,338.58 before gaining a further N1.29 on Friday.

On Monday, the currency traded at N1,346.97 per dollar.

Overall, the naira gained N9.69 against the dollar between Monday and Friday, representing a 0.72 per cent appreciation at the official market.

The sustained improvement marks another week of gains for the domestic currency and reflects continued strengthening at the official foreign exchange market.