The naira experienced a significant appreciation against the dollar in both the parallel and official foreign exchange markets on Monday, ahead of the Christmas holiday..
According to Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, the naira closed at N1,640 per dollar on Monday, compared to N1,775 last Friday, marking a gain of N135.
Similarly, data from the Central Bank of Nigeria indicated a marginal strengthening of the naira in the official market, rising to N1,539.55 on Monday from N1,541.68 last Friday.
These developments coincided with the Nigerian government’s declaration of three public holidays starting Monday to celebrate Christmas and New Year.
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