The Nigerian Naira has strengthened against the British Pound, breaking below the psychological resistance level of 1,800 to trade at approximately 1,788 per pound. This appreciation is driven by the Central Bank of Nigeria’s recent aggressive interest rate hikes and the promotion of high-yield instruments, which have bolstered demand for Naira-denominated assets. Enhanced market confidence and stability in gross external reserves have further supported the currency’s recovery against major foreign denominations.