Naira records first appreciation against dollar at black market

Published on May 16, 2025 at 05:43 AM

The naira has recorded its first appreciation this week against the dollar at the parallel foreign exchange market.

A Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, told DAILY POST that the naira strengthened to N1625 per dollar on Thursday from N1635 exchanged on Wednesday.

“We buy dollars at N1620 and sell at N1625 on Thursday,”;; he disclosed to DAILY POST.

This means that the naira appreciated by N10 against the dollar on a day-to-day basis.

Meanwhile, at the official market, the currency depreciated slightly by N2.63 to N1,599.33 per dollar on Thursday from N1,596.70 traded the previous day. This comes after the against the dollar at the official market.

The mixed sentiments at both FX markets come at the time to 23.7 percent.