Nigerian Naira Maintains Strong Position Against US DollarIn the foreign exchange market, the Nigerian currency continues to demonstrate resilience against the US Dollar and other global currencies.
According to observations by IDOMA VOICE, the exchange rate stands at N1240 per dollar in the parallel market.
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This marks a significant milestone as it is the first time in six months that the dollar has depreciated to such a level against the naira.
It’s worth noting that just last month, the naira plummeted to approximately N1900 per dollar in international trading.
However, proactive measures undertaken by the federal government have contributed to the further fortification of the naira, reinforcing its strength relative to other currencies.
