The naira gained ten naira today after the retail auction by the CBN.
The naira on Thursday (today) gained N10 against the dollar on the parallel market also known as the black market, after the Central Bank of Nigeria (CBN) auctioned $876.26 million through the retail Dutch auction system.
The local currency, which quoted as low as N1,620 on Wednesday, recovered to N1,610 on Thursday morning, gaining 0.62 percent against the dollar on the black market.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira gained 0.28 percent as the dollar was quoted at N1,596.52 on Wednesday from N1,601 quoted on Tuesday, data from the FMDQ Securities Exchange Limited indicated.
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