Dollar rate drops in black market, rises at CBN-backed official window

RIPPLES 

The naira appreciated in value against the dollar on Friday, trading at N754.5/$1 in the black market, in contrast with the N756.8/$1 reported on Thursday.

However, the British pound sterling and the European Union’s currency gained against the Nigerian currency in the parallel market.

In the Bureau De Change window of the black market, the average price of the pound increased from N957.6/£1 to N961.8/£1.

Also, foreign exchange traders saw an increase in the cost of buying one euro, paying an average of N825.9/€1 during trading, against the previous day’s rate of N823.1/€1…