Naira continues to appreciate, exchanges at ₦1,278.58/US$

Naira has continued to appreciate on Monday, as it exchanges at ₦1,278.58 per US$ on Tuesday at the official market.

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During intra-day trading, the Nigerian currency exchanged at a low of ₦1,250.00 per US$ and a high of ₦1,312.00 per US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM).

It closed at ₦1,278.58 per US$, a 2.35% appreciation from the ₦1,309.39 per US$ it closed before the Easter break.

Business Day reported that the Naira steadied .at ₦1,280 on Tuesday morning at the parallel market, popularly called the black market. On the other hand, it exchange at ₦1,255 at the Bureau De Change (BDC) segment of the foreign exchange market.

Naira rates on X (formerly Twitter) quoted the naira exchanging at ₦1,293.24 to the US$ in the black market as at 11.00am on Thursday.

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur