Market News
Naira extends appreciation against USD - DAILY POST
The naira extended its appreciation against the dollar at the official foreign exchange market on Wednesday.
Data from the Central Bank of Nigeria, CBN, showed that the naira strengthened to N1,347.53 per dollar on Wednesday, up from N1,352.87 recorded on Tuesday.
This means the naira gained N5.34 against the dollar on a day-to-day basis at the official foreign exchange market.
Meanwhile, at the black market the naira appreciated by N5 to N1,380 per dollar on Wednesday, from N1,385 traded on the previous day.
The development comes as the country's foreign reserves stood at $55.26 billion on Tuesday, according to data from the apex bank.
DAILY POST reports that the naira has appreciated against the dollar at the official market over the past two days.
