The naira appreciated to N1,518.88/$ at the parallel market on Monday, marking its strongest performance since March 14, when it traded at N1,517.93/$.

This current rate reflects a 0.75% improvement from N1,530.26/$ recorded on July 11.

So far in July, the naira has shown relative resilience, experiencing modest fluctuations at the official window.

Between July 1 and July 3, the currency posted steady gains, rising from N1,529.58/$ to N1,525.82/$.

The trend briefly reversed on July 4, when the naira dipped to N1,528.56/$, before regaining some ground at N1,528.33/$ on July 7.

After slipping to N1,529.22/$ on July 8, the currency bounced back to N1,520.75/$ on July 9, but declined again to N1,525/$ on July 10 and N1,530.26/$ on July 11.

At the parallel market, the naira held steady at N1,550/$ between July 11 and July 14. The currency has shown a pattern of temporary stability in this segment throughout July.

Between July 1 and July 2, it remained unchanged at N1,570/$, then appreciated to N1,565/$, N1,560/$, and N1,550/$ on July 3, 4, and 7 respectively.

However, a slight drop to N1,560/$ was recorded on July 8, followed by renewed gains at N1,550/$ on July 9 and N1,545/$ on July 10.

This rebound comes shortly after Nigerian commercial banks resumed international transactions on naira-denominated cards.