Naira Hits Seven-Day Win Streak Against US Dollar

The Naira appreciated for the seventh consecutive session against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) by 0.14% or N1.87 on Thursday, July 23, to trade at N1,367.76/$1.

This positive outcome comes amid a decline in FX turnover at the Nigerian foreign exchange market by 24% to $1.163 billion from the $1.532 billion recorded a day earlier.

The local currency also improved its value against other major currencies such as the Pound Sterling and Euro, gaining N8.67 to close at N1,824.45/£1 and selling at N1,556.78/€1 compared with the previous day's rates.