On July 23, 2024, the Naira saw its first increase in value against the dollar at the official foreign exchange market.

According to FMDQ data, the Naira rose to N1608.73 per dollar on Thursday from N1621.12 on Wednesday, marking a gain of N12.39 compared to the previous day.

This positive development indicates that the Naira concluded the month of July on a high note in the forex market.

Conversely, in the parallel market, the Naira experienced a decrease in value, trading between N1610 and 1605 per dollar on Thursday, down from N1600 the day before.

The last time the Naira appreciated at the official FX market was on July 23, 2024, when it was valued at N1500.