The naira held firm in the black market on Thursday, trading at N1,540 to the dollar, the same level it closed at the previous day.
The currency, however, recorded some gains against other currencies, as the pound dropped slightly to N2,075/£1 from N2,085/£1, while sellers quoted it at N2,100/£1 compared with N2,110/£1 a day earlier.
Against the euro, the naira inched up to N1,770/€1 from N1,775/€1. On the selling side, the euro eased to N1,790/€1 from N1,795/€1.
The trend was similar in the official window, where the currency closed at N1,536/$1, improving from Wednesday’s N1,537/$1. Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira trading between N1,535.25 and N1,538 to the dollar during the session.
Market watchers say the stability reflects continued Central Bank interventions and improved dollar supply. While the gains are small, analysts note that they point to growing confidence in ongoing reforms.
