The Nigerian naira recorded massive gains, reaching ₦1,485.95 per dollar on Thursday, January 30, 2025, the highest in months.
This appreciation follows a series of measures introduced by the Central Bank of Nigeria (CBN), including the newly launched FX Code, aimed at boosting liquidity and transparency in the foreign exchange market.
The naira’s rally has been consistent, with the currency appreciating ₦24.77 from the previous day’s rate of ₦1,510.72.
Analysts attribute this positive trend to the CBN’s robust policies, which have helped stabilize the naira and boost investor confidence.
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