The naira appreciated significantly against the dollar in the foreign exchange market as FX supply surged.
According to FMDQ data, the naira strengthened to ₦1639.50 against the dollar on Thursday from ₦1,681.65 exchanged on Wednesday.
This represents a ₦42.15 appreciation.
Meanwhile, at the black market, the naira depreciated to ₦1750 per dollar on Thursday from between ₦1720 and ₦1735 exchanged on Wednesday.
This comes as FX transaction turnover increased to $244.96 million on Thursday from $196.78 million recorded the previous day.
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