Naira continues to pummel dollar, appreciates at official, parallel windows

The Nigerian currency, the naira has remained relentless in its current pummeling of the American dollar at the official foreign exchange market on Friday, January 31, 2025, appreciating for the fourth consecutive day against the American greenback.

FMDQ data showed that the naira appreciated to N1,478.78/$1 on Friday, up from N1,485.95/$1 the previous day.

This represents a gain of N7.17 for the local currency.

However, at the parallel market, the naira gained N15 against the dollar to trade at N1,620/$1 as against the previous rate of N1,635/$1.

READ ALSO: Naira reacts positively to FX code launch, appreciates at official, parallel windows

The naira equally gained N10 against the British Pound to trade at N2,010/£1 as against the previous day’s rate of N2,020\£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 ₦1,670/€1 as against the previous day’s rate of ₦1,680/€1.

By: Babajide Okeowo

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