The Naira continued to strengthen against the dollar at the parallel foreign exchange market on Thursday.
However, while uncertainty continues to trail the discontinuation of FMDQ from publishing the daily official FX rates, the Central Bank of Nigeria (CBN) has yet to update the rates 16 hours after the market closed.
At the black market, the Naira gained N5 against the dollar to trade at N1, 570/$1 as against the N1,575/$1 it traded the previous day.
At the official market, the Central Bank of Nigeria has yet to update FX data for Thursday, February 13, 2025, on their website as of the time of filing this report at 8.10 am on Friday, February 14, 2025.
The naira gained N5 against the British Pound to trade at N1,985/£1 as against the previous day’s rate of N1,990£1.
After several weeks of trading steady at N1,280/CA$1, the naira gained N80 by strengthening against the Canadian Dollar to N1,200/CA$1.
The naira gained N25 against the Euro to trade at ₦1,615/€1 as against the previous day’s rate of ₦1,640/€1.
By: Babajide Okeowo