Naira Appreciates by N135 Against Dollar in Parallel Market Ahead of Christmas

• The naira appreciated by N135 against the dollar, closing at N1,640 in the parallel market on Monday.
• In the official market, the naira strengthened to N1,539.55 from N1,541.68.
• The currency gains coincide with the Nigerian government’s announcement of a three-day public holiday for Christmas and New Year.

The naira saw a significant appreciation against the dollar in both the parallel and official foreign exchange markets on Monday, ahead of Christmas, according to EKO HOT BLOG reports.

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Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, informed DAILY POST that the naira closed at N1,640 per dollar on Monday, compared to N1,775 on Friday, marking a gain of N135 against the dollar.

Meanwhile, the Central Bank of Nigeria’s foreign exchange data indicated a slight strengthening of the naira, with the official exchange rate improving to N1,539.55 on Monday from N1,541.68 on Friday.

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These developments coincide with the Nigerian government’s announcement of a three-day public holiday starting Monday to celebrate Christmas and New Year.

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