Christmas: Naira strengthens against dollar on black market

The naira strengthened marginally against the dollar in the parallel foreign exchange market on Tuesday, Christmas Eve.

A Bureau de Change operator in Wuse Zone 4, Abubakar Alhasan, told Newsmen that the naira appreciated by N3, trading at N1,637 per dollar on Monday, compared to N1,640 previously.

Meanwhile, the naira weakened slightly in the official market, closing at N1,540.45 per dollar on Tuesday, down from N1,539.55 the day before. This development comes as Nigerians prepare for the 2024 Christmas celebrations on Wednesday, December 25.

It is worth noting that Nigeria based its proposed N49.7 trillion 2024 budget on an exchange rate of N1,500 per dollar.

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