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The Naira bounced backmost against the United States dollar astatine the authoritative overseas speech market, appreciating connected Wednesday.
Central Bank of Nigeria information showed that the Naira strengthened connected Wednesday to N1,360.58 against the dollar, up from N1,364.89 exchanged connected Tuesday.
This means that, connected a day-to-day basis, the Naira firmed up by N4.31 against the dollar connected Wednesday, reversing the losses recorded the erstwhile day.
Meanwhile, astatine the achromatic market, the Naira depreciated somewhat by N1 to N1,430 per dollar connected Wednesday from N1,429 traded connected Tuesday.
The mixed sentiments crossed the authoritative and parallel overseas speech markets came arsenic the country’s overseas reserves surged further to $52.17 cardinal arsenic of August 11, 2026.
Recall that connected Tuesday, the Naira depreciated connected the authoritative market but gained marginally astatine the achromatic market.
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