Nigerian Naira Gains N0.23 Against Dollar, N5 on Black Market - Currency Update

The Nigerian Naira strengthened by N0.23 against the US Dollar at the official exchange rate, as per Central Bank of Nigeria data. The Naira closed at N1 to $1 on Monday, marking a gain compared to the previous trading day.

Additionally, the Naira appreciated by N5 against the Dollar on the black market. However, it closed flat against the British Pound and the Canadian Dollar.

The Euro also maintained a flat rate. This positive movement in the exchange rate reflects a boost for the local currency against major foreign currencies.