Nigeria’s currency on Thursday recorded 1.1 percent appreciation to close at N406.50 against the dollar.
This represents a N4.50 gain when compared to N411 recorded on the previous trading day, data from the FMDQ indicated.
The appreciation is attributed to improved liquidity at the Investors and Exporters (I&E) forex window and crude oil prices rise.
Currency traders who participated in the trading on Thursday maintained bids at between N389.25k and N427.45k/$.
The daily foreign exchange market turnover increased by 102.08 percent to $66.99 million on Thursday from $33.15 million recorded on Wednesday.
Naira continued to steady at N480 per dollar at the parallel market and Bureau De Change (BDC) segment of the foreign exchange market on Thursday.
On Thursday, crude oil prices traded at above $67 per barrel.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
SPECIAL REPORT: Lack of legal provisions, cultural sentiments fueling marital r*pe in Nigeria
By Arinze Chijioke In the early days of Sandra Izuckukwu’s marriage in 2019, her husband, Sunday Izuchukwu, did everything she...
INVESTIGATION… LIVES ON THE LINE (IV): Surviving in a dangerous media environment
This investigation is on the unresolved killing of three Nigerian journalists while on assignments between 2019 and 2020. For six...
INVESTIGATION… LIVES ON THE LINE (III): Precious Owolabi was killed covering a protest
This investigation is on the unresolved killing of three Nigerian journalists while on assignments between 2019-2020. For six months, Nigerian...
INVESTIGATION… LIVES ON THE LINE (II): Alex Ogbu was telling a story but became the story
This four-part series investigation is on the unresolved killing of three Nigerian journalists while on assignments between 2019 and 2020....
SPECIAL REPORT… TELECOMS BLACKOUT: Nigeria’s latest tactic against banditry grounds businesses, forcing residents beyond borders
The fight against notorious bandits raining terror and kidnapping students in Northwest Nigeria took a new dimension in September as...