The naira appreciated to N1,610 per US dollar in the parallel market on Monday, marking a notable gain from Friday’s closing rate of N1,630/$1, according to Nairametrics sources in Lagos.
This improvement comes after a turbulent performance in May, during which the currency declined by 1.24% in the parallel (black) market from the beginning of the month.
Nairametrics data indicated that the naira hit its lowest point at N1,635/$1 on May 15 before experiencing a slight recovery.
