Naira appreciates at black market

The Naira appreciated against the United States Dollar at the parallel market segment of the foreign exchange (forex) market on Tuesday.

The Nigerian currency was exchanged with its American pair yesterday at N741/$1 in the black market compared with the preceding session’s value of N743/$1.

This indicated that the local currency was strengthened against the greenback by N2 or 0.27 per cent during the trading day, which was a public holiday.

The federal government declared Monday, December 26 and Tuesday, December 27, 2022, as public holidays to celebrate Christmas and Boxing Day.

There was no update on the official market rate from N456.50 it last traded on December 23, 2022.