The naira has appreciated to N1,405 per US dollar in the parallel market, indicating a strengthening of the local currency against the dollar.
The development reflects a positive movement for the naira in the parallel foreign exchange market, where exchange rates are influenced by dollar supply and demand.
The appreciation could offer some relief to businesses and individuals who rely on foreign exchange for imports, international transactions and other dollar-denominated expenses.
Market participants will be watching to see whether the naira can sustain the gain in the coming days amid ongoing efforts to improve foreign exchange liquidity and stabilise the currency.
Post a Comment