Naira Appreciates to N1,610 Per Dollar at Parallel Market Amid Easter Celebrations

|Babatunji Wusu-

Naira Gains Strength Amid Festive Calm in Forex Market
Currency Appreciates by N10 Against Dollar at Parallel Market During Easter Break

The naira appreciated against the dollar at the parallel foreign exchange market on Saturday, as Nigeria marked the 2025 Easter Day celebrations.

Speaking to DAILY POST, a Bureau De Change operator in Wuse Zone 4, Abubakar Alhasan, confirmed that the naira strengthened to N1,610 per dollar on Saturday, improving from N1,620 per dollar traded on Friday.

“The sell rate is N1,610 per dollar on Saturday. The buy rate is N1,595 per dollar. It is due to the Easter holidays,” Alhasan stated.

The development indicates a N10 appreciation in the local currency within 24 hours, driven partly by reduced demand during the holiday slowdown.

Meanwhile, at the official foreign exchange window, the Central Bank of Nigeria had closed operations for the Easter break on Thursday, with the naira exchanging at N1,599.93 per dollar before the break.

Analysts believe the brief relief in naira pressure may not be sustainable post-holiday, as demand for foreign exchange typically rebounds once trading resumes.