Nigerian Naira Strengthens as US Dollar Hits Lowest Exchange Rate in 2025
The Nigerian Naira appreciated against the US Dollar, reaching its lowest level in 2025. The official market saw gains against the British Pound and Euro as well.
Inflows into the Nigerian foreign exchange market have increased, with significant contributions from foreign portfolio investors. The Central Bank of Nigeria's interventions have helped stabilize the Naira.
Meanwhile, Tanzania has banned the use of foreign currencies for local transactions.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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