The naira appreciated by N4.59 against the United Stated dollar on Thursday, May 29, 2025, closing at N1,586.15 at the official foreign exchange market.
Data from the Central Bank of Nigeria’s (CBN) website showed that the naira recorded a 0.28 per cent gain, indicating a slight but consistent upward trend.
On Wednesday, the local currency exchanged at N1,590.74 to the dollar, continuing its modest recovery from earlier volatility in the currency market.
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Earlier in the week, the naira traded at N1,583.73 on Tuesday and N1,579.40 on Monday, reflecting improved demand and foreign currency inflows.
Financial analysts attribute the currency’s recent gains to policy consistency and improved liquidity in the official forex market.
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