In the wake of the Eid-el-Fitr festivities, the Nigerian Naira has witnessed a remarkable surge, appreciating by N60 against the US dollar.
As shared by Mistila Dayyabu, an insightful Bureau De Change operator, with Daily Post, the Naira now stands at N1,140 per US Dollar in the parallel forex market, marking a substantial rise from the N1,200 exchange rate observed earlier in the week.
Following the Eid celebrations, the Central Bank of Nigeria (CBN) took proactive measures, adjusting its FX selling rate to BDCs to N1,101 per dollar, a notable decrease from the previous N1,251.
The Naira’s upward trajectory against the Dollar has been consistent for over a month, a testament to the CBN’s steadfast efforts in stabilising the foreign exchange market.
