Nigeria, May 13 -- Nigeria's foreign exchange landscape experienced pressure and optimism this week as the naira fluctuated around N1,620.25 to the US dollar in the informal market.

This shift comes amid the renewed global strength of the dollar and increased local demand for foreign currency, even as the nation's oil production shows signs of gradual recovery.

The local currency faced headwinds largely driven by a surge in demand from importers and businesses trying to meet international payment obligations. This uptick in dollar demand added pressure to the naira, reflecting Nigeria's persistent challenges in achieving currency stability, especially in the unregulated parallel market.

Yet, beneath the volatility, key developments in ...