Despite the ongoing nationwide protests against poor governance, the Naira has continued to strengthen against the dollar in the foreign exchange market.
According to FMDQ data, the Naira appreciated significantly to N1570.00 per dollar on Thursday, up from N1608.73 on Wednesday, marking a gain of N38.73. Similarly, in the black market, the Naira strengthened to N1600 per dollar on Thursday from N1610 the previous day.
This indicates that the Naira has recorded consecutive gains against the dollar over the past two days, totaling a N51.12 increase within 48 hours.
This appreciation occurs amidst the “hunger protest” on Thursday in major Nigerian states, which resulted in the closure of banks and businesses.
