Market News
Naira appreciates against dollar at official market - DAILY POST
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The Naira appreciated against the dollar at the official foreign exchange market for the first time since Friday, 14 March, 2025.
The Central Bank of Nigeria’s official exchange rate data showed that the Naira strengthened to N1,530.52 per dollar on Wednesday from N1,532.93 on Tuesday.
This means that the Naira gained slightly by N2.41 against the dollar on Wednesday compared to the N1532.93 traded the previous day.
Meanwhile, the Naira depreciated by N5 to close at N1,585 per dollar on Wednesday from N1,580 on Tuesday.
DAILY POST reports that the Naira has continued to record fluctuations at the foreign exchange market.
In a related development on Wednesday, the Centre for the Promotion of Private Enterprise, in a statement, said Dangote Refinery’s decision to ditch petroleum products sold in Naira for dollars will further weaken the local currency.
