The Nigerian currency, the naira, recovered marginally against the dollar at both the official window and parallel market on Wednesday, January 22, 2025.
FMDQ data showed that the naira appreciated to N1,552.58/$1 on Wednesday, January 22, 2025, from N1,550.78/$1 recorded on Tuesday, January 21, 2025.
This represents a gain of N0.20 against the dollar.
Similarly, in the black market, the naira closed positively against the dollar to trade at N1,660/$1 as against the previous rate of N1,670/$1 representing a gain of N10 for the local currency.
In the same vein, the naira gained N30 against the British Pound to trade at N2,050/£1 as against the previous day’s rate of N2,080£1.
The naira continues to hold steady against the Canadian Dollar at N1,280/CA$1.
The naira gained N10 against the Euro to trade at ₦1,690/€1 as against the previous day’s rate of ₦1,700/€1.
By: Babajide Okeowo