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New data from the CBN revealed that the naira has appreciated against the US dollar at the official FX windowThe performance of the naira is supported by stronger external reserves, now above $50 billionThe local currency also gained 0.68% against the pound, but slipped 0.19% against the euro
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Naira strengthened against the Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, June 15, appreciating by 0.55% due to bolstered external reserves and steady FX inflows.
At the official window, the currency strengthened by N7.56 to close at N1,356.27/ $1 as against N1,363.83/ $1 on the previous trading.
Naira strengthens against dollar, supported by rising external reserves Photo: BloombergSource: Getty Images
Also gaining was the currency against the pound sterling with an increase of 0.68% at N1,808.86/1 from
