Naira Maintains Gains at ₦1,466/$ on Official Market
The naira maintained its recent gains on Monday, trading at approximately ₦1,466 to the US dollar in the official Nigerian Foreign Exchange Market (NFEM).
In the parallel market, tracked by AbokiFX, the local currency exchanged at around ₦1,450 per dollar.
According to traders, the official NFEM rate was supported by continued foreign inflows and modest liquidity injections into the market by monetary authorities.
Data from AbokiFX’s live black-market feed showed dealers buying and selling dollars in the mid-₦1,400 range, with buy/sell quotes between ₦1,445 and ₦1,460 on Monday.
Analysts say the recent stability reflects gradual confidence returning to the market following Central Bank interventions and improved foreign exchange supply.
