The Naira recorded its first appreciation against the dollar at the official foreign exchange market on Thursday. According to the Central Bank of Nigeria, the Naira strengthened slightly to ₦1,535.78 per dollar from ₦1,536.73 on Wednesday—an improvement of ₦0.95, or 0.062 percent. Meanwhile, at the parallel market, the Naira remained stable at ₦1,550 per dollar….
Nigeria’s foreign exchange reserves rose to $40.16 billion last week, boosted by higher forex inflows and a marginal increase in crude oil output. Central Bank of Nigeria (CBN) figures show reserves climbed from $37.934 billion on April 30 to the current level. Nigeria’s oil output rose by 0.67 per cent in July to 1.51 million…
The naira yesterday appreciated to ₦1,560 per dollar in the parallel market from ₦1,565 last Friday. However, it weakened slightly in the Nigerian Foreign Exchange Market (NFEM), falling to ₦1,538.4 per dollar from ₦1,534.9, a ₦3.5 depreciation. According to Central Bank of Nigeria (CBN) data, the gap between the parallel market and NFEM rates narrowed…