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Naira Appreciate Against Dollar As New Exchange Rate Emerges

Naira Appreciate Against Dollar As New Exchange Rate Emerges
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Naira appreciates further, now N1,350/$ in parallel market – Opinion Nigeria

The recent appreciation of the naira against the dollar can be attributed to foreign exchange reforms implemented by the Central Bank of Nigeria (CBN).

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Naira continues to recover, up to N1,430/$ in parallel market – Opinion Nigeria

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,408.04 per dollar from N1,431.49 per dollar last week Friday, indicating N23.45 appreciation for the naira.

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Currency Dealers Open Up on Why Dollar is Crashing as Naira Appreciates in Official, Black Markets

The Association of Bureau de Change Operators (ABCON) has stated that CBN's recent issuance of FGN bonds and OMO actions are responsible for the naira's improvement.

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Official, Black Markets Close Gap as The Naira Gains Against the Dollar, Analyst Predict New Rates

The official and black markets finally narrowed against the dollar as the naira continued to recover in both markets, signalling a good outlook for the economy.

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