For the first time in about nine days, the naira appreciated against the dollar in both the official and parallel foreign exchange markets.
According to FMDQ data, the naira marginally appreciated to N1,554.65 per dollar on Thursday from N1,561.98 on Wednesday, marking a gain of N7.33.
Similarly, in the parallel exchange market, the naira appreciated to N1,550 on Thursday from N1,560 on Wednesday.
This improvement comes as foreign currency transaction turnover hit $348.82 million on Thursday, as reported by FMDQ.
Since last Friday, the naira had been depreciating, losing N52.31 over the period. Notably, external reserves reached a one-year high of $35.05 billion on Monday, July 8, 2024.