- The Nigerian currency, the naira, appreciated in value against the US dollar in the foreign exchange market
- Latest data showed that the naira increased in both the official foreign exchange window and also the unofficial market
- There is hope that the Central Bank of Nigeria now has more firepower to defend the naira in the coming weeks
The Nigerian currency rebounded in the official foreign exchange markets, and there are signs of better days ahead.
Data from FMDQ securities showed that the naira in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the official market, closed against the dollar at 1481.49/$1 on Thursday, June 6.
