Nigeria, May 20 -- Nigeria's naira strengthened slightly on Monday, trading at N1,597 to the dollar in the official market from Friday's close of N1,599.01 to the dollar.

The Central Bank of Nigeria (CBN) fixed the exchange rate. The parallel market strengthened slightly, with the naira trading at N1,627 per dollar from the previous trading day's N1,628, an investigation by Nairametrics market analysts in Lagos indicated.

Even amid persistent intraday volatility, the local currency has otherwise been highly resilient and robust when the naira gained as high as N1,601.5 and dipped as low as N1,580 per dollar. That is in the backdrop of the fact that the market remains eagerly awaiting the 300th Monetary Policy Committee (MPC) of the Cent...