The naira has seen steady appreciation since the Eurobond sales and the introduction of the Electronic Foreign Exchange Matching System (EFEMS) on Monday.
Data from the Central Bank of Nigeria show that the naira, on Wednesday, appreciated to N1,608/$1 at the Nigerian Foreign Exchange Market (NFEM). This is from N1625/$1 on Tuesday and N1660 on Monday.
Analysts have projected that this appreciation will likely remain till early next year.
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