New Exchange Rate: Naira Appreciates Against US Dollar in Forex Markets [Video]

• The naira recorded an improvement in value against the United States dollar in the foreign exchange market
• New data showed that the naira improved in the official market by 0.09% and also N30 in the unofficial market
• The introduction of the CBN’s Electronic Foreign Exchange Matching System has been a major boon for the naira

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 value of the Nigerian currency, the naira, continued to strengthen against the US dollar in all foreign exchange markets at the end of last week.

According to official market data, the naira closed at N1,533.00/$1 in the Nigerian Foreign Exchange Market (NAFEM) on Friday, December 13, 2024.

Friday’s exchange rate represented an N1.50 or 0.09% gain against the dollar …