Naira records massive appreciation against US dollar on month-on-month basis
[NigerianEye - Nigeria] - 2/11/2025
The Naira recorded massive month-on-month appreciation against the United States Dollar to close October on a positive note. The Central Bank of Nigeria’s data showed that the Naira strengthened significantly to N1,421.73 per dollar on October 31st, up from N1,455.23 at the start of the month. This means that the Naira gained N33.5, or 2.30 percent, against the dollar on a month-on-month basis, among the highest uptrends since the introduction of the Electronic Foreign Exchange Matching System (EFEMS) by CBN last year. Meanwhile, at the black market, the Naira remained flat against the (…)
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