Business

Naira Strengthens by N6.45 Against Dollar

  • Naira Strengthens to N1,534/$ Post-Christmas Holiday
  • Parallel Market: Naira Closes at N1,650/$ on Friday
  • FX Turnover Hits N23.95 Trillion in November

The Nigerian naira appreciated against the US dollar in the foreign exchange market following the resumption of work after the Christmas holidays.

According to FMDQ data, the naira strengthened to N1,534 per dollar on Friday, improving from N1,540.45 recorded on Tuesday, marking a gain of N6.45.

EDITOR’S PICKS 

In the parallel market, the naira closed at N1,650 per dollar on Friday, compared to the range of N1,638 to N1,650 exchanged earlier on Tuesday.

The fluctuation in the naira’s value highlights ongoing volatility in Africa’s most populous nation’s FX market in recent days.

FURTHER READING

Meanwhile, EKO HOT BLOG reports that FX turnover rose to N23.95 trillion by the end of November 2024, as revealed by FMDQ data.

Here is the video of the week

James Agbenu

Share
Published by
James Agbenu

Recent Posts

Presidential Aide Ibidapo Oyewole Sued by Estranged Wife Over Child Custody Battle

Dooshima Oyewole has taken her estranged husband, presidential aide Ibidapo Oyewole, to court over the…

8 minutes ago

Energy Puzzle: Nigeria Imports Solar Panels from China, Exports Electricity to Neighbours

Massive Solar Imports: Nigeria imported solar panels worth ₦237.3 billion in the last quarter of…

10 minutes ago

EFCC Arrests TikToker Murja Ibrahim Kunya Over Alleged Naira Abuse

EFCC Arrests TikTok Star Murja Ibrahim Kunya for Naira Mutilation in Kano Crackdown on Money…

24 minutes ago