Again, Traders Crash Dollar Exchange Rate as Naira Appreciates [Video]

• The Nigerian currency continues its strong performance against the US dollar in the foreign exchange market
• Latest data showed that the naira improved in the official market and also in the unofficial market
• The naira performance comes on the back of the Electronic Foreign Exchange Matching System (EFEMS) introduction

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian currency continued to strengthen in value against the US dollar in various currency market segments.

According to data, the naira closed at N1,535/$1 a dollar in the Nigerian Foreign Exchange Market (NAFEM) on Friday, December 6, 2024.

Friday’s exchange rate represents a 2.0% or N32 gain against the dollar compared to the preceding day’s value of N1,567/$1.

This happened despite a 38.8%, or $111.18 million, decline in …