‎Naira Strengthens to ₦1,565/$ in Parallel Market Amid Volatility

‎The naira rebounded against the dollar on Wednesday in the parallel foreign exchange market, reversing earlier losses.

‎As of February 12, 2025, the naira was trading at ₦1,560/$ (buy) and ₦1,565/$ (sell), reflecting a significant recovery from the ₦1,580 level recorded at the close of trading on Tuesday. However, market conditions remained volatile.

‎Meanwhile, in the official foreign exchange market, the naira weakened, falling to ₦1,503.07 per dollar on Tuesday from ₦1,499.78 on Monday, representing a depreciation of ₦3.29.