Ajibola Olarinoye
On Wednesday, the naira experienced its most significant single-day appreciation against the dollar in the official foreign exchange market, continuing a three-day upward trend.
According to data from the Central Bank of Nigeria, the naira strengthened to N1,565.46 per dollar, up from N1,579.27 on Tuesday. This represents a notable increase of N13.81 against the dollar, marking the highest gain since Monday, June 2, 2025. The increase on Wednesday exceeded the total gains of N6.88 recorded on both Monday and Tuesday.
In the black market, Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, Abuja, reported that the naira also appreciated, trading at N1,613 per dollar on Wednesday, compared to N1,614 the previous day. “We buy at N1,600,” he added.
It be noted that naira has been steadily appreciating in foreign exchange markets since Monday of this week.
