After nine days of depreciation, the Naira strengthened against the dollar on Friday at the foreign exchange market, capping off a positive week.

According to FMDQ data, the Naira strengthened against the dollar on Friday, trading at N1505.30 as opposed to N1510.10 on Thursday.

Concerning the N1510.10 exchanged the day before, this signifies a gain of N4.8 against the US dollar.

Similarly, on Friday at the foreign exchange market, the Naira saw a gain and traded at N1515 against the US dollar.

Since June 18, 2024, when it traded at N1482.72 per dollar on the official forex market, this is the first time the Naira has appreciated.

The event occurred on June 26, 2024, when Nigeria’s external reserves reached a record high of $34.07 billion.