The naira appreciated against the dollar at the foreign
exchange market upon resumption of work after the Christmas holidays.
FMDQ data showed that the naira strengthened to N1,534 per
dollar on Friday from N1,540.45 exchanged on Tuesday, gaining N6.45.
This comes as the naira closed at the black market on Friday
at N1,650 per dollar compared to between N1,638 and N1,650 exchanged on
Tuesday.
The development indicates that Africa’s most populous
nation’s currency has continued to fluctuate in the FX market in the past few
days.
FX turnover increased to N23.95 trillion at the end of
November 2024, according to FMDQ data.
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