Naira appreciates in Official, Black Markets as 2024 closes

The naira appreciated against the dollar in both the official and black markets on Tuesday, ending 2024 on a positive note.

FMDQ data revealed that the naira strengthened slightly to N1,538.25 per dollar on Tuesday, up from N1,538.55 the previous day, gaining N0.30 against the dollar.

Similarly, in the black market, the naira gained N12, closing at N1,655 per dollar on Tuesday, compared to N1,662 exchanged the previous day.

Tuesday’s trading at FX markets marked the final close for 2024 as the world prepares to usher in a new calendar year on Wednesday, January 1, 2025.

IDOMA VOICE reports that the FX market ended 2023 at N907.11 per dollar. On a year-on-year basis, this indicates a depreciation of N629.14 for the naira in the official market.