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The Naira has recorded its third consecutive gain against the United States dollar at the official foreign exchange market this week.
The Central Bank of Nigeria’s data showed that the Naira continued its impressive run against the dollar, appreciating to N1,521.46 on Wednesday.
This means that the Naira gained significantly by N4.6 on a day-to-day basis.
Meanwhile, at the black market, the Naira remained flat at N1,533 per dollar, the same exchange rate traded on Tuesday and Monday this week.
Wednesday’s uptrend of the Naira at the official foreign exchange market comes after the currency had recorded a similar feat since Monday.
The development means Nigeria’s currency is now having a favourable standing against other foreign currencies in the global market, which may not be unconnected to the rise in the country’s external reserves to $41.46 as of 2nd September, 2025.
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