The Nigerian currency, the naira, appreciated against the dollar at the official foreign exchange market on Wednesday, the first gain recorded this week.
The Central Bank of Nigeria’s official data indicated that the Naira appreciated marginally to N1,537.07 per dollar on Wednesday, up from N1,537.61 traded on Tuesday.
This indicates that the Naira weakened slightly by N0.54 on a day-to-day basis.
Meanwhile, at the black or parallel market, the Naira remained flat at N1548 per dollar on Wednesday, the same rate exchanged on Tuesday, Hussein Aminu, a Bureau de Change operator in Wuse Zone 4, confirmed.
The development comes amid a day-to-day surge in the country’s external reserves to $41.22 billion as of Tuesday, up from $41.19 billion on Monday, according to CBN data.
Recallshttps://dailypost.ng/2025/08/25/naira-depreciates-against-dollar-at-official-market-to-begin-week/ that on Monday and Tuesday, the Naira weakened to N1,536.42 and N1,537.61 per dollar, respectively, at the official foreign exchange market.
