The naira appreciated against the dollar in the foreign exchange market as trading resumed after the Eid-ul-Mawlid public holiday.
Central Bank of Nigeria data showed that the naira strengthened to N1,343.59 against the dollar on Wednesday, from N1,346.98 on Monday.
This means that between Monday and Wednesday, the naira gained N3.39 against the dollar in the official foreign exchange market.
Similarly, the naira firmed up by N3 against the dollar in the black market to close at N1,407 per dollar on Wednesday.
This comes amid the continued surge in the country’s external reserves, which grew to $53.11 billion as of August 24, 2026.
Recall that the naira had ended Monday’s trading on a negative note ahead of Tuesday’s public holiday.
