Business
Again, naira appreciates against dollar at FX official market
The naira recorded a significant appreciation against the dollar at the official foreign exchange market on Wednesday, closing the day stronger.
According to data from the Central Bank of Nigeria (CBN), the naira rose to N1,596.70 per dollar, improving from N1,600.03 recorded on Tuesday. This marks a day-to-day gain of N3.33 for the local currency.
In contrast, the black market saw no change, with the naira holding steady at N1,635 per dollar, the same rate as the previous day.
This latest appreciation continues the naira’s upward trend, which began earlier in the week.
The movement comes ahead of Nigeria’s April 2025 Consumer Price Index (CPI) report, expected to be released on Thursday.
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