The naira continued its upward trend against the dollar in the official foreign exchange market on Wednesday, marking its third consecutive day of gains this week.
According to data released by the Central Bank of Nigeria, the naira strengthened to N1,526.15 against the dollar on Wednesday, up from N1,529.57 on Tuesday. This represents a daily gain of N3.42.
In contrast, the black market saw the naira remain stable at N1,570 on Wednesday, the same rate as the previous day.
The naira also appreciated against the dollar on both Monday and Tuesday. This positive trend follows the International Monetary Fund’s recent Article IV Consultation, which praised the Central Bank of Nigeria’s reforms in foreign exchange and monetary policy.
