Naira Watch
Naira continues rally against dollar, gains N11 at official window
For the second consecutive day, the naira appreciated against the dollar at the official foreign exchange market on Wednesday, January 29, 2025.
FMDQ data showed that the naira appreciated to N1,510.72/$1 on Wednesday, up from N1,522.28/$1 the previous day.
This represents a gain of N11.58 for the local currency.
Similarly, at the parallel market, the naira gained N10 against the dollar to trade at N1,630/$1 as against the previous rate of N1,640/$1.
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The naira gained N10 against the British Pound to trade at N2,010/£1 as against the previous day’s rate of N2,020\£1.
The naira continues to hold steady against the Canadian Dollar at N1,280/CA$1.
The naira gained N10 against the Euro to trade at ₦1,670/€1 as against the previous day’s rate of ₦1,680/€1.
By: Babajide Okeowo
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