Economy
Naira Appreciates Against Dollar After Nine-Day Decline
In a positive turn, the Naira appreciated against the dollar on Friday, marking its first gain in nine days at the foreign exchange market. According to FMDQ data, the Naira strengthened to N1505.30 per dollar, improving from N1510.10 on Thursday, an N4.8 increase.
Additionally, the Naira traded at N1515 per dollar, ending the week positively. This appreciation is the first since June 18, 2024, when it stood at N1482.72.
This rebound coincides with Nigeria’s external reserves reaching a record high of $34.07 billion on June 26, 2024.
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