The naira appreciated against the United States dollar at the official foreign exchange market, trading at N1,360.14 per dollar.

Data published on the official website of the Central Bank of Nigeria showed that the naira gained N5.54 from the N1,365.68 per dollar recorded on Friday.

The latest movement represents a 0.4 per cent appreciation in the value of the naira against the dollar.

The gain also provided some relief after the local currency recorded losses for four consecutive trading sessions in the previous week.

The naira’s performance at the official market reflects ongoing movements in foreign exchange supply and demand, as well as developments in the country’s currency market.

The Central Bank of Nigeria continues to implement measures aimed at improving liquidity and strengthening stability in the foreign exchange market.

Market participants will be watching the naira’s performance in the coming sessions to determine whether Monday’s appreciation can be sustained.