Naira strengthens against dollar at official, black markets

The Naira continued to strengthen against the dollar at both the official and parallel foreign exchange market on Monday, February 17, 2025.

At the official window according to figures posted by the Central Bank of Nigeria (CBN), the naira traded at N1,508.58/$1 as against the previous day’s rate of N1,508.66/$1.

This represents a gain of N0.22 for the local currency against the American greenback.

At the black market, the Naira gained N5 against the dollar to trade at N1, 560/$1 as against the N1,565/$1 it traded the previous day.

READ ALSO: Naira strengthens against dollar at black market, still no official rates from CBN

The naira gained N10 against the British Pound to trade at N1,970/£1 as against the previous day’s rate of N1,980\£1.

The Canadian Dollar still maintained the current rate of N1,200/CA$1.

The naira gained N20 against the Euro to trade at ₦1,590/€1 as against the previous day’s rate of ₦1,610/€1.

By; Babajide Okeowo

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