Naira recovers at official window, holds steady at black market

The Nigerian currency, the naira, returned from the Christmas holidays stronger by appreciating against the dollar on Friday, December 27, 2024.

According to data from FMDQ, the naira appreciated to N1,534 /$1 from the N1,540.45 /$1 it traded on Tuesday, December 24, 2024.

This represents a gain of N6.45 for the local currency.

However, in the black market, the naira held steady at N1,650/$1 same as the previous rate.

READ ALSO: Naira slumps at official window, black market to close week negatively

Contrastingly, the naira lost N10 against the British Pound to trade at N2,160/£1 as against the previous day’s rate of N2,150\£1.

The naira continues to hold steady against the Canadian Dollar at N1,280/CA$1.

The naira lost N10 against the Euro to trade at ₦1,730/€1 as against the previous day’s rate of ₦1,720/€1.

By: Babajide Okeowo

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