Nigeria, May 26 -- The News Chronicle reports that the naira appreciated by N19.67 during the month, closing at an average exchange rate of N1,361.51/$, compared with N1,381.18/$ recorded in March. The improvement came as the apex bank intensified its liquidity-tightening strategy through Open Market Operations, with bills valued at N9.71 trillion.



Rising from the N7.62 trillion distributed in March, the number showed the CBN's resolve to control inflation, lower excess liquidity, and stabilize the foreign currency market.



April market statistics also revealed lower volatility, with the naira trading within a narrower range than the month before. Analysts think the growth reflects stronger investor confidence and reduced local-cu...