Business
Naira Appreciates Strongly Across FX, Black Markets To Begin Week After Eid-el-kabir
The naira appreciated significantly against the dollar across both the official and parallel foreign exchange markets to kick off the week on Tuesday, following the Eid-al-kabir holidays.
The Central Bank of Nigeria’s official exchange data showed that it rose to N1540 per dollar on Tuesday, up from the N1,553.12 rate recorded on Thursday, June 5, 2025.
This indicated that the naira gained N13.12 against the dollar when compared to the N1,553.12 exchanged at the close of business last Thursday.
Similarly, in the black market, the naira appreciated to N1607 per dollar on Tuesday from N1610 on Thursday, according to a Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan.
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“We buy at N1600 per dollar and sell at N1607 per dollar. This is an improvement from N1610 before Sallah. However, we are uncertain of the future,” he told DAILY POST.
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