The naira appreciated against the dollar in the official foreign exchange market on Thursday, driven by an increase in FX transactions.
According to FMDQ data, the currency strengthened slightly to N1659.26 per dollar, up from N1669.19 on Wednesday, marking a N9.93 gain.
Similarly, the naira rose in the parallel market, closing at N1680 per dollar on Thursday, a N10 increase from the previous day’s rate of N1690.
This appreciation comes as the daily foreign exchange transaction turnover surged to $450.39 million on Thursday, compared to $176.45 million on Wednesday.
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