The naira showed a modest gain in the parallel market on Monday, appreciating to N1,600 per dollar from N1,610 recorded over the weekend. This marks a continued trend of cautious optimism in the local currency’s performance.
In the official Nigerian Foreign Exchange Market (NFEM), the naira also edged up slightly, trading at N1,605 per dollar compared to N1,606 on Friday.
Data released by the Central Bank of Nigeria (CBN) confirmed the improvement, highlighting a marginal N1 gain in the official exchange rate. The movement reflects ongoing efforts to stabilize the naira amid fluctuating market conditions.
