The Nigerian naira strengthened against the euro, exchanging at about N1,548 per euro, amid improving liquidity in the foreign exchange market.
The latest movement reflects continued stability in Nigeria’s currency market as foreign exchange supply improves and pressure on the naira eases.
The development comes amid recent efforts by the Central Bank of Nigeria (CBN) to deepen liquidity and improve the functioning of the FX market.
The naira has recorded relative stability across major foreign currencies in recent sessions, supported by improved dollar inflows and increased market liquidity.
The improved conditions in the FX market have also narrowed exchange-rate disparities, reducing volatility and strengthening confidence in the naira.
Market participants are closely watching the sustainability of the trend, particularly the level of FX inflows, external reserves and demand for foreign currency.
The latest appreciation against the euro adds to recent gains recorded by the naira against other major currencies, although analysts note that sustained improvement will depend on continued FX supply and broader macroeconomic stability.
