Naira Appreciates Against the Dollar After Nine Days

The value of the Naira continued to depreciate against the Dollar in the foreign exchange market. Data from FMDQ showed that the Naira dropped to N1,500.79 against the Dollar on Tuesday from N1490 traded on Monday.

The Naira strengthened against the Dollar on Friday after nine days of depreciation.
Data from FMDQ showed that the Naira strengthened at N1505.30 against the Dollar on Friday from N1510.10 traded on Thursday. The figure represents a N4.8 gain against the Dollar compared to Thursday.
On Friday, the Nigerian currency was also traded at N1515 against the Dollar at the foreign exchange market.

Money-naira-cash-transfer (News Central TV)

The increase marks the first time the Nigerian currency strengthened against the Dollar since June 18, 2024, when it traded at N1482.72 to one Dollar at the Forex market.
The increase comes as the country’s external reserves increased to $34.07 billion on June 26, 2024.

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