The Nigerian naira strengthened in the official currency market as foreign reserves surged close to $40 billion, buoyed by sustained foreign exchange (FX) inflows. Reforms to boost investor confidence, alongside relatively high yields in Nigeria’s debt market, have spurred foreign currency inflows into the country. According to data from the FMDQ platform, the naira appreciated … Continue reading Naira Gains As Nigeria’s Foreign Reserves Approach $40 Billion