The naira experienced a significant appreciation against the dollar on Monday, both in the parallel and official foreign exchange markets, just ahead of the Christmas holidays.
According to Bureau de Change operator Abubakar Alhasan, the naira closed at N1,640 per dollar on Monday, up from N1,775 on Friday last week, reflecting a gain of N135. Similarly, data from the Central Bank of Nigeria indicated a slight improvement in the official market, with the naira strengthening to N1,539.55 from N1,541.68 on Friday.
This positive shift in the exchange rate comes as the Nigerian government declared three days of public holidays to celebrate the Christmas and New Year seasons, further boosting the festive mood across the country.
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