The Naira is currently having a tough time against the dollar as the gains made by the local currency in the previous week are eroding.
The Naira which ended the previous week, trading at 1492.49 per dollar is currently trading at 1500 against the U.S currency.
A trader in Enugu who identified himself as Adamu said they’re currently buying at 1500 while selling for 1520.
This downturn follows a three-day appreciation recorded the previous week.
Despite this, the Naira has remained relatively stable against the US Dollar, thanks to the CBN’s reforms aimed at promoting transparency in the Foreign Exchange (FX) market.
Analysts continue to commend the CBN for the local currency’s steady progress since December 2024.
