US EditionNigeria: Naira Strengthens Against Dollar
- The Nigerian Naira strengthened against the US dollar in mid-May 2025, closing at N1,596.70 and showing continued appreciation.
- This appreciation follows sustained Central Bank of Nigeria interventions and improved foreign exchange liquidity amid ongoing economic challenges.
- Analysts link the currency’s stability to monetary policy reforms and market confidence, while economic efforts aim to attract foreign investment.
- On May 12, the Naira gained N5.71 or 0.35 percent to close at N1,600.44 per dollar, with reports highlighting cautious optimism by traders.
- The strengthening suggests potential stabilization in Nigeria’s foreign exchange market, influencing investor sentiment and ongoing economic reform outcomes.
21 Articles
21 Articles
Naira Ends Week Strong Against Dollar - NEWS AGENCY OF NIGERIA
Naira ends week strong against Dollar 19 total views todayBy Grace Alegba The Naira ended the trading week on a positive note, recording a bullish close on Friday at the official foreign exchange market. It appreciated to N1,598.72 against the U.S. Dollar, reflecting a modest gain that suggests continued efforts to stabilise the local currency. According to figures published on the […] NEWS AGENCY OF NIGERIA
Naira’s outlook brightens on lower inflation reading, FX remittance policy
The fundamentals of the Nigerian currency have improved amid lower headline inflation readings and ongoing reforms by the Central Bank of Nigeria (CBN) aimed at boosting foreign exchange (FX) remittances. The post Naira’s outlook brightens on lower inflation reading, FX remittance policy appeared first on Nairametrics.
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