Pound Strengthens to N1,837 as Naira Holds Steady

The British pound has strengthened to N1,837 against the naira ahead of the final trading session of the week, while the Nigerian currency maintains relative stability in the official foreign exchange market.

According to data from the Central Bank of Nigeria (CBN), the pound-to-naira exchange rate has recorded moderate movements in recent weeks, trading within an estimated range of N1,805 to N1,875 per pound over the past 30 days.

The US dollar is currently trading around the N1,360/$ level in the Nigerian Foreign Exchange Market (NFEM), reflecting the relative stability that has characterized the naira in recent months.