The naira extended its appreciation against the dollar on Wednesday at the official foreign exchange market for the third consecutive day.
Data from the Central Bank of Nigeria (CBN) showed that the naira further strengthened against the dollar on Wednesday, closing at N1,357.26 compared to N1,361.05 traded on Tuesday.
This means that it appreciated by N3.79 on a day-to-day basis against the dollar at the official foreign exchange market. Newspot reports that the naira has appreciated over the last three days, gaining N9.50 against the dollar.
Meanwhile, at the black market, the Nigerian currency remained flat at N1,395 per dollar on Wednesday, the same rate recorded the previous day.
The development comes as the country’s foreign reserves surged to $49.88 billion on June 2, 2026, up from $49.80 billion recorded the previous day, according to CBN data.
Recall that the naira also gained against the dollar on Tuesday and Monday.
