Market News
Naira strengthens by N45 against dollar - DAILY TRUST
By Philip Shimnom Clement
The naira, over the weekend, gained N45 against the dollar at the parallel foreign exchange market following a week-on-week analysis.
The analysis of the FX trade review at the black market from Monday, 3 February 2025, to 7th, showed that the naira appreciated by N40 to N1,565 per dollar from N1,610.
It showed that the naira firmed up against the dollar and other foreign currencies at the FX black market in the week under review.
The development is coming amid reforms by the Central Bank of Nigeria as it recently announced efforts towards effective implementation of its newly introduced FX code.