Naira Records First Gain Against US Dollar in September, Exchange Rate Falls Below N1,600
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The Nigerian naira appreciated against the US dollar for the first time in September, closing at N1,593.32/$ on September 6, 2024, after a previous rate of N1,639.41/$ on September 5. This improvement followed a 244.4% increase in dollar supply to $245.17 million on September 6, compared to $71.18 million on September 2. The black market rate also improved, with traders quoting N1,625/$ on September 6, down from N1,635-$1,640 in prior sessions. Nigeria's foreign reserves rose by $195.01 million to $32.64 billion, indicating increased market liquidity.

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https://www.legit.ng/business-economy/money/1612592-naira-bounces-cbn-supplies-dollar-bdcs-cheaper-rates/