Naira continues appreciation against dollar

The naira continued its appreciation against the dollar at the official foreign exchange market after the close of work on Thursday, August 14, according to data from the Central Bank of Nigeria (CBN).

Figures on the CBN’s official website showed the naira strengthened slightly to ₦1,534.52 per dollar, up from ₦1,534.83 recorded the previous day, marking a marginal gain of 0.3 on a day-to-day basis.

At the black market, the naira remained stable at ₦1,565 per dollar, the same rate traded on the previous day.

Earlier in the week, the naira recorded gains across both official and parallel foreign exchange markets. The CBN, in a recent statement by its spokesperson, Hakama Sidi Ali, urged Nigerians to avoid spraying, hawking, mutilating, or counterfeiting the currency.