The naira appreciated against the United States dollar and closed stronger on Friday, May 23, 2025, trading at N1,580.44 in the official forex market.
Data from the Central Bank of Nigeria’s (CBN) website show the naira gained N4.51 against the dollar on Friday.
This marks a 0.28 per cent appreciation from Thursday’s closing rate of N1,584.95 in the foreign exchange window.
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The local currency maintained consistent strength throughout the week, recording gains daily.
On Monday, May 19, it traded at N1,598.68; N1,590.45 on Tuesday; and N1,584.49 on Wednesday.
These gains suggest increased investor confidence and improved forex supply, contributing to the naira’s performance.
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