The naira saw a notable rise against the dollar in the foreign exchange market as FX supply increased.
According to FMDQ data, the naira strengthened to N1639.50 on Thursday, up from N1681.65 on Wednesday, marking an appreciation of N42.15.
In contrast, at the black market, the naira weakened to N1750 per dollar on Thursday, down from the N1720 to N1735 range on Wednesday.
This change occurred as FX transaction turnover rose to $244.96 million on Thursday, up from $196.78 million the day before.
Overall, the naira continued to experience fluctuations against the dollar, despite interventions from the Central Bank of Nigeria.
