The Nigerian naira recorded a fresh gain against the United States dollar on Thursday, strengthening at the official foreign exchange window of the Central Bank of Nigeria.
Data published on the apex bank’s platform showed that the local currency traded at ₦1,371.5063 per dollar at the Nigerian Foreign Exchange Market and closed the session slightly firmer at ₦1,370 per dollar.
The latest figure reflects an appreciation from Wednesday’s closing rate of ₦1,376.1925 per dollar, indicating that the naira gained about ₦4 against the dollar within a day.
Parallel Market Trend
The naira also recorded modest gains at the parallel market, where foreign exchange transactions are commonly handled by Bureau De Change operators.
Checks across major commercial cities including Lagos, Kano, Port Harcourt, and Abuja showed that the dollar traded at ₦1,420 for buying and ₦1,450 for selling on Thursday.
Traders said the exchange rate in the parallel market had improved slightly in recent days, with the naira appreciating by about ₦10 on the buying rate and ₦20 on the selling rate compared to earlier levels.
Market Snapshot
- Official Market (NFEM): ₦1,371.5063 per dollar
- Parallel Market: ₦1,420 (buying) – ₦1,450 (selling)
The gradual appreciation reflects a modest strengthening of the local currency across both official and informal foreign exchange markets.
