Naira Gains Ground Amid Rising Value to $1 for First Time in Weeks

The naira has appreciated by N137.69 against the US dollar in a week, following the introduction of the Central Bank of Nigeria's new foreign exchange platform. The naira gained value as a result of this development.

The Nigerian naira has seen a significant appreciation, gaining N137.69 against the US dollar within a week, following the introduction of the Central Bank of Nigeria's new foreign exchange platform. This development is expected to bring relief to businesses and individuals seeking sustenance amid economic challenges. The move aims to stabilize the currency and provide a more favorable exchange rate for imports and exports. As a result, the naira's value has increased substantially, offering a boost to the country's economy.