US Dollar Crashes Against Naira as Trump Warns Nigeria, Naira Strengthens in Forex Market
The US Dollar has depreciated against the Nigerian Naira following Trump's warning about Nigeria's security situation. The Naira closed trading at N1,421 to the Dollar, reaching its highest level since 2025.
Factors contributing to the Naira's appreciation include stronger forex supply and reduced speculative demand. Analysts are concerned about the implications of Nigeria being designated as a country of particular concern by the US.
Dr. Raph Nwaezu predicts the Naira to end the year at N1,662 per Dollar. FBNQuest Merchant Bank also projects stability in the Naira's value.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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