The Naira appreciated against the dollar at the official foreign exchange market on Wednesday, for the first time this week.
The Central Bank of Nigeria’s data showed that the Naira strengthened to N1,348.45 on Wednesday, up from N1,350.74 traded on Tuesday.
This means that at the official market, the Naira firmed up by N2.29 on a day-to-day basis to end a two-day depreciation run.
Similarly, at the black market, the Naira eased significantly to N1,400 per dollar on Wednesday from N1,425.
The development comes despite the country’s continued foreign reserves dropping to $48.51 billion as of March 21st, 2026.
