Naira on Friday strengthened against the dollar by 0.39 percent at the parallel market following a moderation in demand for the greenback.

During the morning trading session, the dollar traded at the rate of N752 as against N755 closed on Thursday.

“There was not much demand for dollars today. We are watching the movement of the exchange rate,” one trader told BusinessDay on Friday.

The naira closed flat at N464.67 per dollar at the Investors and Exporters (I&E) forex window.

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President Bola Ahmed Tinubu had in his inaugural speech on Monday signalled plans for a single exchange rate. He said monetary policy needs thorough house cleaning and that the Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.

Most foreign exchange dealers who participated in the market auction on Thursday maintained bids between N460.00 (low) and N467.00 (high) per dollar.

The foreign exchange daily market turnover increased by 53.27 percent to $250.98 million on Thursday from $163.74 million recorded on Wednesday.

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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