The naira continued its modest appreciation against the United States dollar at the official foreign exchange market on Wednesday.
Data from the Central Bank of Nigeria (CBN) showed that the local currency strengthened to N1,418.26 per dollar on Wednesday, improving from N1,419.07 recorded on Tuesday. This reflects a marginal gain of 80 kobo on a day-to-day basis.
In contrast, the naira remained stable at the parallel market, exchanging at N1,480 per dollar, the same rate seen the previous day.
The latest movement comes amid a further increase in Nigeria’s external reserves, which rose to $45.62 billion as of January 6, 2026.
It will be recalled that the naira had posted a stronger performance on Tuesday, appreciating by N10.24 against the dollar at the official market.
