The Naira strengthened against the Dollar on Friday after nine days of depreciation.
Data from FMDQ showed that the Naira strengthened at N1505.30 against the Dollar on Friday from N1510.10 traded on Thursday. The figure represents a N4.8 gain against the Dollar compared to Thursday.
On Friday, the Nigerian currency was also traded at N1515 against the Dollar at the foreign exchange market.
The increase marks the first time the Nigerian currency strengthened against the Dollar since June 18, 2024, when it traded at N1482.72 to one Dollar at the Forex market.
The increase comes as the country’s external reserves increased to $34.07 billion on June 26, 2024.
