BREAKING NEWS: Naira Appreciates to ₦1,545 per Dollar as Inflation Eases to 22.97%

The naira appreciated by 0.59% to ₦1,545.29/$ in the official market on June 17, supported by easing inflation and rising investor confidence. Gains were also recorded against the pound and euro. Analysts cite FX inflows and improved policy coordination as drivers of the local currency’s modest rebound……READ ORIGINAL & FULL CONTENT HERE

NAFEM Close: ₦1,545.29/$1, up from ₦1,554.57/$1
Parallel Market: ₦1,585/$1 from ₦1,590/$1
Inflation: Drops to 22.97% in May from 23.71% in April
Naira gains: ₦6.54 vs Pound, ₦5.59 vs Euro
Minister Edun: Pledges tighter fiscal-monetary policy alignment

This slight strengthening of the naira may not mean a full turnaround, but it’s a key psychological win for policymakers trying to reassure markets. A fall in headline inflation offers some breathing room and possibly signals that recent monetary tightening and policy coordination are starting to show results.

While the naira’s gains are modest, the mix of falling inflation and policy alignment could pave the way for more stability. For now, it’s a cautious thumbs-up from the markets……READ ORIGINAL & FULL CONTENT HERE