‎Naira Appreciates Further, Sells N1,490/$1 in Parallel Market

‎The naira further appreciated against the U.S. dollar in the black market on Wednesday, February 26, 2025, trading at N1,490/$1.

‎This marks a N5 gain compared to the previous day’s rate of N1,495/$1, reflecting a slight improvement in the value of the local currency.

‎However, at the official market, the Central Bank of Nigeria (CBN) has yet to release the exchange rate for the day.

‎In other currency movements, the naira remained unchanged against the British pound, trading at N1,900/£1. Similarly, the exchange rate against the Canadian dollar held steady at N1,200/CA$1.

‎Meanwhile, the naira gained N10 against the euro, trading at ₦1,540/€1, compared to the previous day’s rate of ₦1,550/€1.

‎The recent appreciation in the parallel market comes amid ongoing foreign exchange market adjustments and government interventions to stabilize the naira.

‎Source: Ripples