Naira strengthens against dollar, begins July on positive note

The naira continued its appreciation against the dollar at the official foreign exchange market on Tuesday.

According to data from the Central Bank of Nigeria, the naira firmed up slightly to N1,529.57 per dollar on Tuesday, from N1,529.71 exchanged on Monday.

This indicates that the naira gained N0.14 against the dollar on a day-to-day basis.

Meanwhile, on the black market, the naira remained unchanged at N1,570 per dollar on Tuesday, the same exchange rate recorded on Monday.

This suggests that the naira began July on a relatively positive note, following its close in June at N1,529.71 and N1,570 at the official and parallel foreign exchange markets, respectively.

Naira strengthens against dollar, begins July on positive note