Market News
Naira continues appreciation against dollar across official, black markets - DAILY POST
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Nigeria’s currency, the naira, continued to gain against the dollar across official and parallel foreign exchange markets on Tuesday. The Central Bank of Nigeria’s exchange rate data showed that the naira rose further to N1,579.27 against the dollar on Tuesday from N1,581.58, which was traded on Monday.
This means that the naira strengthened by N2.31 on Tuesday from N1,581.58 exchanged on Monday.
Similarly, it was appreciated significantly, from N15 to N1,600 per dollar on Tuesday from 1615, exchanged on the previous day at the black market.
DAILY POST reports that the naira recorded significant FX markets on Monday.
The development comes as CBN’s deadline for the recapitalization of Bureau De Change Operators expired on Tuesday, June 3, 2025.
Despite occasional fluctuations, DAILY POST reports that the Naira has recorded relative stability in the last six months at the foreign exchange markets.
