The Naira appreciated slightly against the official foreign exchange market, the United States Dollar, on Wednesday, halting its depreciation trend.
Central Bank of Nigeria data showed that the Naira strengthened moderately to N1,379.46 on Wednesday, up from N1,380.71 recorded on Tuesday.
This means that on a day-to-day basis, the Naira gained N1.25 against the dollar.
Meanwhile, at the black market, the Naira stood at N1,395 per dollar on Wednesday, down from N1,393 traded on Tuesday, according to Abubakar Hassan, a Bureau de Change operator in Wuse Zone 4, Abuja.
This comes as the country’s foreign reserves extended their decline to $48.37 billion as of April 28, 2026, according to Central Bank of Nigeria data.
Recall that since last week, the Naira had continued its depreciation streak against the dollar at the official foreign exchange market.
