The naira appreciated against the United States dollar, trading N1526.15 at the official market on Wednesday, July 2, 2025.
Data obtained from the website of the Central Bank of Nigeria (CBN) showed that the naira gained N3.42 or 0.22 per cent.
The local currency traded at N1,529.57 to a dollar on Tuesday.
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Meanwhile, the IMF in its 2025 Article IV Consultation report on Nigeria, has commended CBN on its reforms on foreign exchange market, which supported price discovery and liquidity.
IMF said the reforms to the forex market and foreign exchange interventions (FXIs) had brought stability to the naira.
It stated that CBN’s measures had curbed forex volatility and improved transparency and market integrity.
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