See the current exchange rate of the naira against dollar, euro, other currencies

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Naira appreciates slightly to N1,378/$ at the official market due to reduced dollar demandParallel market sees naira weaken to N1,400/$ amid increased foreign currency needsGlobal dollar remains resilient as geopolitical tensions and oil prices support safe-haven assets

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

The Nigerian naira posted a modest gain against the US dollar at the official foreign exchange market on Thursday, as reduced demand for foreign currency and weaker trading activity helped support the local currency.

Fresh data released by the Central Bank of Nigeria (CBN) showed the naira closed at N1,378.4313/$ at the Nigerian Foreign Exchange Market (NFEM), improving slightly from N1,379.0675/$ recorded a day earlier.

Naira appreciates against major currencies as liquidity improves. Credit: NurPhoto/Contributor
Source: Getty Images

The appreciation reflects improving liquidity conditions at the official market despite the absence of fresh dollar interventions by the apex bank.

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