ECONOMY
Naira Appreciates Against the Dollar for Fourth Consecutive Day Across Forex Markets
The naira appreciates against the dollar, marking the fourth consecutive day of gains across Nigeria’s official and parallel foreign exchange markets.
According to data published by the Central Bank of Nigeria, the naira firmed up slightly to N1,525.83 against the dollar on Thursday, compared to N1,526.15 recorded the previous day. This reflects an appreciation of N0.32 on a day-to-day basis, reinforcing the positive momentum witnessed this week.
Asiwaju Media reports that this trend signifies the fourth straight session the naira appreciates against the dollar in the official market, signaling improved forex liquidity and trader confidence.
In the parallel market, the naira also gained ground, strengthening by N10 to close at N1,560 per dollar on Thursday, up from N1,570 traded a day earlier.
Currency analysts note that this consistent performance indicates sustained intervention by the Central Bank and improved inflows, further supporting the narrative that the it appreciates against the dollar amid ongoing economic reforms.
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