The Naira opened the week stronger at the official market, trading at the N1,369.10 to a dollar on Monday.
Data from the official website of the Central Bank of Nigeria, CBN, revealed that the Naira gained N1.34.
This represents 0.09 per cent gain against the dollar when compared to the trading figure of N1,370.45 on Friday.
The Naira has enjoyed relative stability since December 2024 due to sustained CBN reforms aimed at strengthening market transparency.
Naira’s appreciation against the U.S. dollar at the official market is also driven by improved foreign exchange liquidity and increased investor inflows.
Higher dollar supply from exporters and international oil companies has also supported the local currency’s recent gains.
Source: NAN
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