Lagos, Sept. 10, 2024 – The Nigerian currency, naira, appreciated to N1,580.46 against the dollar at the official foreign exchange market on Monday.
The naira was N1,619.95 to the dollars at the market on Friday.
The exchange rate has been hovering around ₦1,600 to the dollar in the market in the last two weeks.
The appreciation of the naira on Monday may be attributed to the recent announcement by the Central Bank of Nigeria to inject more foreign exchange into the market.
The apex bank had on Friday announced plans to sell $20,000 to each of the eligible Bureau De Change (BDC) operators at a rate of N1,580 to the dollar to stabilise the foreign market.
The naira also appreciated at the black market on Monday, appreciating to N1,580.46 from N1,619.95 on Friday. (GBN)
