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The naira appreciated against the US dollar, pound sterling, and euro in the official foreign exchange marketFresh figures from the CBN show the naira closed at N1,368.27/$1 in the official market, extending its recent gainsThe latest appreciation comes as Nigeria’s external reserves rose to $51.46 billion, boosting confidence in the country’s foreign exchange market
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 Nigerian naira appreciated further against the United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, July 6.
The local currency gained N1.92 or 0.14%, from N1,370.19/$1 to N1,368.27/$1 on Monday.
Nigeria’s currency strengthens again, reinforcing recent stability in the official foreign exchange market. Photo: BloombergSource: Getty Images
New exchange rates against others
The naira also strengthen against the British pounds at the official foreign exchange market from N1,829.89/1 to N1,826.91/1.
Against the euro, the
