As the foreign currency market opened on Monday, the value of the Naira increased to N1000 per US dollar.

This was revealed to the PROPOLITICS by Mistila Dayyabu, an operator for the Bureau De Change.

The BDC operator predicts that during the course of the week, the value of the Naira will continue to rise below N1000 per dollar.

On Monday, the value of the Naira is trading between N1000 and N1050 per dollar. The Naira would strengthen more this week, reaching less than N1000 per dollar, he told PROPOLITICS  in April, this occurrence occurred.

Remember that following the Eid-el-Fitr celebrations on Friday, the Naira appreciated by N60 versus the US dollar.

The value of the Naira has been rising against the dollar for several months now. The Nigerian Naira changed at the parallel market from N1,900 in February to N1,000.

Nigerians have bemoaned the fact that the value of the Naira has increased without having an effect on the cost of products and services.

According to the most recent inflation report from the National Bureau of Statistics, food inflation reached 40.01 percent in March 2024.