The naira recorded the highest two-day gain against the United States dollar at the official foreign exchange market.
The Central Bank of Nigeria’s data showed that the Naira rose to N1,358.28 on Wednesday, up from N1,372.91 on Tuesday.
This means that the naira appreciated by N14.63 against the dollar on a day-to-day basis...READ FULL; FROM THE SOURCE.
Recall that on Tuesday, the country’s currency gained N17.45 against the dollar, meaning in the last two days, the naira strengthened by N32.08 at the official foreign exchange market.
This means that the country’s currency is gradually racing to N1300 per dollar, the last time it was exchanged at that rate was in March 2024.
Meanwhile, at the black market, the naira stood at N1,460 per dollar as of Wednesday, according to multiple Bureau De Change operators in Wuse Zone 4, Abuja.
The uptrend of the naira at the official foreign market comes at a time when the country’s external reserves extended their surge to $46.70 billion as of February.
