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Nigerian currency appreciates as CBN holds interest rate - DAILY POST
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The Naira eased against the dollar on Wednesday at the official foreign exchange market after the Central Bank of Nigeria held the interest rate at 26.50 percent.
CBN’s data showed that the Naira strengthened slightly to N1,373.34 per dollar on Wednesday from N1,373.87 exchange on Tuesday.
This means that the Naira strengthened marginally by N0.5 against the dollar on a day-to-day basis.
Meanwhile, at the black market, the Naira remained unchanged at N1400 per dollar on Wednesday, the same exchange rate recorded the previous day.
The development comes as the CBN monetary policy committee on Wednesday holds the country’s interest rate at 26.50 percent.
DAILY POST reports that the country’s foreign reserves have continued to rise since May 8th, 2026, standing at $48.72 billion as of May 19th, according to the apex bank data.
Recall that in the past two days, the Naira had depreciated against the dollar at the official foreign exchange market.
