NewsOnline Nigeria reports that Nigeria’s currency, the Nigerian Naira, recorded a significant gain against the United States Dollar at the official foreign exchange market on Wednesday.
Data released by the Central Bank of Nigeria (CBN) showed that the naira strengthened to N1,371.82 per dollar, improving from N1,386.66 recorded the previous day.
The latest figures indicate that the local currency appreciated by N14.84 against the dollar on a day-to-day basis at the official market.
However, the situation remained unchanged at the parallel market, commonly known as the black market, where the naira traded at N1,404 per dollar on Wednesday, the same rate recorded on Tuesday.
The development comes as Nigeria’s foreign reserves continue to decline, standing at $48.94 billion as of April 7, 2026.
Earlier on Tuesday, the naira recorded mixed performance across the foreign exchange markets.
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