Naira appreciates against dollar on first workday in 2025

Published

10 months ago

January 2, 2025

The naira appreciated against the dollar at the foreign exchange market upon resumption of business after the New Year holiday.

FMDQ data showed that the naira strengthened to N1,538.23 per dollar on Thursday from N1,538.25 on Tuesday, marginally gaining N0.02.

Meanwhile, on the parallel market, the naira fell to N1665 per dollar on Thursday, from between N1655 and N1660 exchanged on Tuesday.

DAILY POST earlier reported that the naira depreciated by 41 per cent against dollars in 2024 when compared with 2023.

This comes as President Bola Ahmed Tinubu, in his New Year message to Nigeria, promised to stabilise the naira against the dollar.

Tinubu, in his 2025 budget proposal, set the exchange rate at N1,500 per dollar.

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