Nigerian Naira Hits 6-Month High Against Dollar - Economic Boost
The Nigerian Naira has reached a 6-month high of N1,514.86 against the US dollar, driven by rising liquidity and foreign reserves. The currency's value has been boosted by sustained improvements in liquidity and external reserves, leading to its highest level in six months.
The Central Bank of Nigeria reported a steady increase in total foreign exchange inflow, reaching $29 billion in Q1 2025, while foreign reserves stood at $33 billion. Despite a rise in FX outflow, the Naira remains strong, reflecting positive economic indicators and the impact of CBN's monetary policies.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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