Naira Strengthens to N1338 Per Dollar Amid Robust Forex Liquidity
The Nigerian naira has strengthened at the official window, closing at N1338 per US dollar on Thursday. The robust forex liquidity supported this development.
The market saw sufficient US dollar volume amid fluctuating interbank FX activity by financial institutions. Foreign portfolio investors, exporters, and non-bank corporates remain key drivers of FX inflows.
According to the Central Bank of Nigeria (CBN), total FX turnover printed at $191.694 million. The naira gained 42 basis points against the British pound to close at N1820.34 at the official window.