Naira appreciates to N1,360 against dollars at forex market

The naira's appreciation against the US dollar continued on Monday, exchanging N1,360 and N1,408.04 per USD at both parallel and official foreign exchange markets. A Bureau De Change Operator at Wuse Zone 4 Abuja, Mistila Dayyabu, told

that naira was sold at N1,360 per USD on Monday. 'The naira has gained significantly. We buy at N1,350 per USD and sell at N1,360 on Monday evening,' he said. The figure represents N100 gain compared to the N1,460 per USD traded on Friday last week. Similarly, FMDQ data showed that the naira appreciated to N1,408.04 per USD on Monday compared to N1,431.49 exchanged last Friday. This presents N23 gain against the USD in the forex market.

recalls President Bola Tinubu's Special Adviser on Information and Strategy, Bayo Onanuga, had urged speculators to dump their dollars to avoid 'tears quickly' due to naira appreciation. In early March 2024, Goldman Sachs analysts forecast that the naira will appreciate to N1200 per US dollar in 12 months.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Naira appreciation continues as USD supply surges at forex marketThe Naira continued its appreciation against the US Dollar at the foreign exchange market as USD transactions surged. FMDQ data showed that the Naira appreciated to N1,572.82 per USD upon resumption of trading on Monday compared to 1,602.75 on Friday. The figure represents N29.93 appreciation compared to the N1602.75 it traded on Friday.
Source: DailyPostNGR - 🏆 11. / 59 Read more »