Nigeria: Naira Bounces Back As Forex Supply Improves

The currency remained stable at the black market.

Naira strengthened significantly against the U.S. dollar at the I&E window of the foreign exchange market on Thursday, a day after posting its worst performance in nearly a month.

Naira closed at N409.65 at the trading session of the I&E window, 0.33 per cent appreciation from N411.00 the rate at which it closed at the previous day, data posted on the FMDQ Security Exchange where forex is officially traded showed.

The domestic currency experienced…