The value of the naira increased against the dollar in the foreign exchange market due to an increase in the supply of foreign exchange.

As reported by FMDQ, the naira strengthened to N1,639.50 per dollar on Thursday, an improvement from N1,681.65 on Wednesday, indicating an appreciation of N42.15.

Conversely, in the black market, the naira fell to N1,750 per dollar on Thursday, compared to a range of N1,720 to N1,735 on Wednesday.

This shift occurred alongside an increase in FX transaction turnover, which reached $244.96 million on Thursday, up from $196.78 million the day before.

Ultimately, the naira continued to exhibit fluctuations against the dollar, despite the Central Bank of Nigeria's interventions.