The naira continued its appreciation against the US dollar despite a drop in foreign exchange turnover transactions at the FX market.
Data from FMDQ showed that the naira appreciated further to N1,255.07 per dollar at the foreign exchange market on Thursday, representing a N7.78 gain against the dollar compared to N1, 262.85 recorded the previous day.
The naira’s appreciation comes despite the drop in the turnover of foreign exchange transactions to $133.99 million on Thursday from $166 million the previous day.
Since the first week of March 2024, the country’s currency has maintained a consistent gain against the dollar and other foreign currencies, following the reforms of the Central Bank of Nigeria.
Naira appreciation continues despite drop in FX turnover
