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The Naira appreciated against the dollar at the parallel exchange market on Monday, gaining N10 against the dollar.
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According to a Bureau de Change operator, Abubakar Alhasan, the Naira strengthened to N1650 per dollar on Monday from N1660 recorded on Friday last week.
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However, at the official market, the Naira dropped slightly to N1533.63 per dollar, losing N2.43 against the dollar.
The Naira strengthened against the dollar at the parallel exchange market on Monday, gaining N10 against the dollar.
According to Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, Abuja, the Naira appreciated to N1650 per dollar on Monday from N1660 recorded on Friday last week.
Alhasan told newsmen, “The Naira strengthened to N1650 per dollar on Monday from N1660 recorded on Friday last week.”
This significant gain of N10 against the dollar is a welcome development for the Nigerian economy.
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However, at the official market, the Naira dropped slightly to N1533.63 per dollar, losing N2.43 against the dollar.
According to FMDQ data, the Naira gained to N1,533.63 against the dollar on Monday from N1,531.20 last Friday.
The Central Bank of Nigeria has been making efforts to stabilize the Naira, and this development is seen as a positive step.
However, the Naira has continued to experience mixed sentiments in recent months.
Naira Appreciates Against Dollar in Official Market
The naira appreciated significantly in the official foreign exchange market, strengthening to N1,531.20 against the dollar on Friday, from N1,548.59 on Thursday.
This reflects a positive trend for the currency in the official market
