The naira gained value against the dollar in the foreign exchange market as work resumed after the Christmas holidays. Data from FMDQ revealed that the naira improved to N1,534 per dollar on Friday, up from N1,540.45 on Tuesday, marking a gain of N6.45. In the black market, the naira closed at N1,650 per dollar on Friday, compared to rates between N1,638 and N1,650 on Tuesday. This trend suggests that the currency of Africa’s most populous nation has continued to experience fluctuations in the FX market over the last few days. According to FMDQ data, FX turnover rose to N23.95 trillion by the end of November 2024.
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