Naira Trades Below ₦1,500 per Euro for First Time Since April 2024

The naira closed at ₦1,497 to the euro, moving below ₦1,500 for the first time since April 2024, according to Central Bank of Nigeria data. The euro had previously risen above ₦1,500 after Nigeria’s 2024 foreign-exchange reforms and at one point traded near ₦1,800. It has since declined from about ₦1,684 late last year. The gain reflects the naira’s relative stability against the US dollar and the euro’s recent weakness in global markets. CBN interventions, tighter monetary policy, improved FX-market transparency, stronger reserves and lower fuel-import demand from local refining were also cited as supporting factors.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.