By JKNewsMedia
FRESH GAINS by the Naira at the official foreign exchange market saw the local currency close at N1,369.10 to the dollar on Monday, strengthening from N1,370.45 recorded at the end of trading on Friday.
JKNewsMedia.com reports that data published on the website of the Central Bank of Nigeria (CBN) showed that the currency appreciated by N1.34, representing a 0.09 percent gain against the U.S. dollar.
It was also reported that the Naira has maintained relative stability since December 2024, citing sustained reforms by the CBN aimed at improving transparency in the market.
Also, improved foreign exchange liquidity and increased investor inflows have contributed to the currency’s appreciation at the official market.
Additional support for the Naira has come from higher dollar supply by exporters and international oil companies, according to the report.
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