The foreign exchange market is signaling an appreciation in the value of the Naira as it opened with the dollar trading at N387.50k on Thursday morning at the Investors and Exporters (I&E) forex window.

This indicates N0.18k gain when compared with N387.67k opened with on Wednesday, data from FMDQ revealed.

The price of Brent crude has risen to $39.32 per barrel as at today Thursday from as low as $20 per barrel in March 2020.

Naira weakens by N1.00k at the black market as the dollar was trading at N443 on Thursday as against N442 on Wednesday.

Investigation shows normal demand and supply playing out in the market with uncertainty about when the Central Bank of Nigeria (CBN) will resume dollar sales to the Bureau De Change (BDC) operators.

CBN said on April 29, 2020 that it had made complete arrangements to resume foreign exchange sales to the BDC segment of the market for business travels, personal travels, and other designated retail uses, as soon as international flights resume.

On the same day, the Apex bank resumed dollar sales for school fees and Small and Medium Enterprises (SMEs) and directed users to access FX from the banks.

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.

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