Naira Value Appreciate: See the Current Value of Naira to Dollars in Official Market
Naira Value Appreciate: See the Current Value of Naira to Dollars in Official Market
Naira and Dollars
The Naira appreciated in value on Thursday, reaching N1,493 in the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) showed a decrease in the exchange rate, from N1,506 the previous day, marking an improvement of N13 for the Naira.
Earlier in January and May 2024, the official exchange rate had briefly reached N1,400.
This positive movement follows the implementation of the CBN’s new Foreign Exchange Code earlier this week.
In the parallel market, the Naira also saw a slight gain, moving from N1,630 to N1,620.
As a result, the gap between the official and parallel market rates increased slightly, widening to N127 from N124 the
day before.
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