Intraday high closed at N1,504 per dollar, on Thursday stronger than N1,510 on Wednesday. Intraday low weakened to N946.82 per dollar as against N896.28/$1 closed on Wednesday.
Data from the CBN indicates that the Nigerian Foreign Exchange Market (NFEM) rate improved to ₦1,526.3 per dollar from ₦1,533.5 per dollar on Monday, marking a ₦7.2 gain.
Below are the most counterfeited currencies in the worldThe following countries as profiled by YahooFinance have the most counterfeited notes: ADVERTISEMENT [th]Rank[/th] [th]Country[/th] [th]PPM[/th] 1 US Dollar 100?
The parallel market wasn't the only witness to Thursday's conquest by the Naira, as the local currency also appreciated at the Investors and Exporters window by 0.06 percent to trade at N362.19 to one US Dollar, lower than N362.40/$1 it traded
The Naira exhibited signs of resilience against the US dollar, appreciating by N125 to reach N1,275/$1 during the weekend, marking a notable 9.8% increase from its Friday closing rate of N1,400 to a dollar.
Forex dealers said that transactions ranged from N1,545 to N1,551.50. By the end of trade, the Nigerian Foreign Exchange Market (NFEM) had finished at N1,547.9989, a tiny 8-basis-point decrease from the previous session.
Also, in the parallel market, the local currency improved its rate against the US Dollar in the midweek session by N5 to quote at N1,135/$1, in contrast to the previous day's value of N1,140/$1.
According to him, all they want to listen to his music from Davido whom many perceive as rival to Wizkid. After the beaten, Davido came to his aide by giving him N1million.
Singer Davido has hinted at what he might do with the over N180 million donated to him by his friends. Two days ago, Davido opened a new account and asked his friends to gift him N1million each ahead of his birthday.
This positive momentum extended to the official trading window, where the naira strengthened by1.63 percent to N1,230.61/$, up from N1,251.05/$ on April 5.
The dollar supplied by the willing buyers and willing sellers increased by 21.37 percent to $153.53 million on Monday from $126.50 million recorded on Friday.
, the amount of dollar transactions, or the daily turnover of the foreign exchange on Nigeria's official market increased from $156.86 million on Thursday to $440.13 million on Friday.
This move helped the naira recover from its low of ₦1,627 against the dollar on March 8 to ₦1,072 by mid-April, as investors opted for higher-yielding local assets.
Compared to the level on April 12, 2024, the naira has weakened by 12.69 percent from N1,142.38 per dollar in the last two weeks, according to data from the FMDQ Securities Exchange.
Inset: Davido picking up his Bentley in Atlanta On May 1, 2018, Davido broke the internet when he gifted his girlfriend, Chioma Avril with a Porshe car valued at N45 million.