The naira continued its stable run on Thursday, appreciating against the dollar in the black market as confidence in the Central Bank of Nigeria’s (CBN) reform agenda helped calm speculative activity.
By the close of trading, the naira gained N5 or 0.3 per cent to settle at N1,545 per dollar in the parallel market, also known as the black market, compared to N1,550 the previous day.
In the official Nigerian Foreign Exchange Market (NFEM), the naira slipped slightly by N5.24, with the dollar quoted at N1,525.98, reflecting a 0.3 per cent depreciation from N1,520.74 on Wednesday, according to data from the CBN.