Traders Sell Dollar at New Exchange Rate As Naira Appreciates Again at Official, Black Markets [Video]

• The Nigerian currency, the naira, continues to improve against the US dollar in the foreign exchange market
• Checks show that the naira rose by 0.4% against the dollar in the official market and by N2 in the black market
• The strong performance of the naira has helped close the exchange rate gap between the official and black market

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience and in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The naira appreciated against the United States dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM).

Data from FMDQ securities showed that at the NAFEM window, which is the official market, naira closed at N1,608.98/$1 on Thursday, March 14, 2024.

This represents a 0.4 % or N6.96 increase in value for the naira compared to N1,615.94/$1 exchanged on Wednesday, March 13, 2024.

Naira’s performance comes …