For the first time, the Naira has strengthened against the Dollar at both the official and parallel foreign markets after maintaining a steady decline throughout last week.
Data from FMDQ showed that the Nigerian currency appreciated marginally to N1,554.65 against the Dollar on Thursday from N1,561.98 traded on Wednesday.
This increase represents a significant gain of N7.33 compared to the N1,561.98 traded on Thursday, indicating a notable shift in its value against the Dollar.
The Naira appreciated to N1,550 on Thursday from N1,560 traded on Wednesday at the parallel market. The increase comes as foreign currency turnover hit $348.82 million on Thursday.
The Nigerian currency has declined steadily since last Friday, losing N52.31 in the reference period.