Naira Watch
Naira rebounds, appreciates against dollar on official, black markets
The naira rebounded against the dollar in both the official and parallel foreign exchange markets on Thursday, December 12, 2024.
According to data from FMDQ, it showed that the naira strengthened to N1,534.35/$1 on Thursday, compared to N1,545/$1 traded the previous day.
This represents an appreciation of N11 against the American greenback.
Similarly, in the black market, the naira closed at N1680/$1 as against the N1710/$1 recorded the previous day. This means a gain of N30 against the dollar.
READ ALSO: NGX: Tantalizer, Conoil lead gainers as investors make N152bn
The naira lost N10 against the British Pound to trade at N2,160/£1 as against the previous day’s rate of N2,150\£1.
After several weeks of holding steady at N1,300/CA$1, the Canadian Dollar shed N20 against the naira to trade at N1,280/CA$1.s
The naira gained N25 against the Euro to trade at ₦1,805/€1 as against the previous day’s rate of ₦1,830/€1.
By: Babajide Okeowo
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.
