Naira strengthens steadily against Dollar
By Grace Alegba
The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market.
Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone.
This marks a 0.28 per cent appreciation from Thursday’s closing rate of ₦1,584.95 in the official foreign exchange window.
The local currency maintained consistent strength throughout the week, recording gains daily.
On Monday, May 19, it traded at ₦1,598.68; on Tuesday, at ₦1,590.45; and on Wednesday, at ₦1,584.49.
These gains suggest increased investor confidence and improved forex supply, contributing to the naira’s performance.
Meanwhile, the CBN, at its 300th Monetary Policy Committee meeting held Monday and Tuesday, retained the Monetary Policy Rate at 27.5 per cent. (NAN) (www.nannews.ng)
Edited by Kamal Tayo Oropo
Published By
Has also recently published
SportsAugust 1, 2025Beach Volleyball: Technical Director optimistic of Nigeria Team maintaining top place in CAVB championship
Defence/SecurityAugust 1, 2025Troops eliminate top terror commanders, rescue 134 victims in July — DHQ
SportsAugust 1, 2025Bayelsa United reports Coach Bosso to NFF, seeks N30 m for contract breach
EducationAugust 1, 2025Government Junior College wins APWEN STEM contest
