By MBAFAN ADE, Abuja –
Naira has continued its upward trend, appreciating by N12.34 against the dollar in the official foreign exchange market.
According to data from the Central Bank of Nigeria (CBN), the Naira traded at N1,553.11 per dollar on Thursday, representing a 0.79% gain from Wednesday’s rate of N1,565.46 per dollar.
This steady appreciation comes as the Bureau De Change Operators’ recapitalization exercise began on June 3.
The Naira’s recent performance shows a consistent gain, having traded at N1,579.27 on Tuesday and N1,581.58 on Monday.
The local currency’s bullish trend extends from the previous week, where it closed with a gain of N4.56.
The ongoing appreciation signals a positive shift in Nigeria’s foreign exchange market.
