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Naira Appreciates Against Dollar After Christmas Holidays
The naira gained strength against the dollar at the foreign exchange market following the Christmas holiday break.
According to data from FMDQ, the naira appreciated to N1,534 per dollar on Friday, improving from N1,540.45 recorded on Tuesday, marking a gain of N6.45. Meanwhile, in the black market, the currency closed at N1,650 per dollar on Friday, compared to rates ranging between N1,638 and N1,650 observed on Tuesday.
This fluctuation reflects the continued volatility of Nigeria’s currency in recent days. Additionally, FX turnover in the market saw a significant increase, reaching N23.95 trillion by the end of November 2024, based on FMDQ’s data.
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