Good News: Naira Strengthens aAgainst Dollar As Ramadan Comes To An End

Naira strengthens against Dollar as Ramadan ends

The Nigerian Naira has closed the week strong at parallel market, just as Muslims get ready to mark Eid-el-fitr celebration. According to's findings, the Naira gained two points to close the day at N368 per Dollar from the previous rate of N370 on Thursday, June 22. The local currency also maintained the N465 and N410 against the Pound and Euro at the unofficial market. 

Recall that central Bank of Nigeria (CBN) earlier this week, injected 195 million dollars into the market to meet the requests of customers in the various segments of the market. 

However, the apex bank has urged members of the public to desist from ill handling of the nation’s currency. The central bank stressed that the cost of maintaining the naira note was expensive, while also urging members of the informal sector to embrace the various e-payment options in the economy. Meanwhile, the federal government has declared Monday and Tuesday, June 26 and 27, as Public Holiday to mark Eid-el-fitr celebration.