On Wednesday, Nigeria’s naira traded flat at N1,490 on the parallel market, reflecting improved dollar liquidity.
Compared to last week’s rate of N1,495, the naira saw a marginal gain of 0.33%. This stability follows the infusion of $5.95 billion from the World Bank and Afreximbank, bolstering Nigeria’s external reserves.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira closed at N1,482.72, a slight increase from N1,483.62 on June 10. Dollar supply by willing buyers and sellers rose by 13.47% to $183.47 million on June 15, up from $161.69 million on June 10, per FMDQ Securities Exchange Limited.
