The naira on Wednesday recorded its first appreciation against the United States dollar this week at the official foreign exchange market.
According to data from the Central Bank of Nigeria, the local currency strengthened to N1,378.70 per dollar, improving from N1,386.72 traded on Tuesday.
This reflects a day-on-day gain of N8.02 after the naira had depreciated in the previous two trading sessions.
At the parallel market, the naira also appreciated, gaining N5 to close at N1,420 per dollar on Wednesday, compared to N1,425 recorded the previous day.
Meanwhile, the country’s foreign reserves continued on a downward trend, declining to $49.29 billion as of March 30, 2026, from $49.85 billion reported on March 2, according to figures from the apex bank.
