As the Easter holidays commenced today, the naira strengthened on Thursday, maintaining the gains achieved at the start of the week.
Following Thursday, which marked the last trading day of the week, the naira was valued at N1,599.9384 per dollar on the Nigerian Foreign Exchange Market.
The Central Bank of Nigeria (CBN) reported on its official website that this rate is very close to the exchange rate on Wednesday, when the local currency was priced at N1,599.7991 per dollar.
In the parallel market, commonly known as the black market, the Nigerian currency also displayed signs of stability, trading at N1,600 per dollar in Enugu and N1,607 in Lagos and Abuja.
These recent figures suggest that the local currency is demonstrating positive signs of recovery, a trend that experts attribute to improved supply from the apex bank.
