Economy
Naira Strengthens as FX Turnover Dips on Thursday
The Nigerian naira recorded a slight appreciation against the U.S. dollar at the close of trading on Thursday, according to data from FMDQ. The currency strengthened to N1,593.93 per dollar, up from N1,606.56 on Wednesday, marking a gain of N12.63.
However, the black market told a different story, with the naira weakening to N1,625 per dollar on Thursday, compared to N1,620 on Wednesday.
This development occurred amid a significant decline in foreign exchange transaction turnover, which fell by $155.52 million on Thursday, down from $160.94 million the previous day.
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