The naira appreciated against the dollar on Monday, marking a one-month gain of N105 in the parallel market, commonly referred to as the black market.
Data from online trading platforms and street traders indicated a 6.7% rise in the local currency, with the dollar quoted at N1,560—an improvement from N1,665 at the start of the month.
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In the official market, the naira also recorded gains, strengthening by 1.8% against the dollar between January and February 2025.
According to figures from the Central Bank of Nigeria, by the close of trading on Friday, the naira had appreciated by N27.50, with the dollar exchanging at N1,511, compared to N1,538.50 at the start of the month.
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