Naira Shows Resilience Against US Dollar Amidst Market Challenges
Saturday, 10 August 2024, 06:16
Naira Shows Signs of Resilience
On Friday, the Naira appreciated against the US dollar, closing at N1,585/$ on the parallel market, up from N1,590/$ on Thursday. The continued improvement indicates a strong market response.
Current Market Status
Yesterday, the Naira further improved to N1,574 vs the US dollar, showcasing its ongoing strength in a volatile market.
Resistance at N1,500
Despite these gains, the Naira faces a challenging obstacle at the N1,500 resistance line. This level is crucial for determining the potential for future gains.
- Naira appreciated to N1,585/$
- Improved to N1,574 amidst active trading
- Must contend with N1,500 resistance
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.