Nigerian Naira records first appreciation against US dollar after weeks of decline

The Nigerian Naira appreciated against the United States Dollar astatine the authoritative overseas speech marketplace connected Tuesday for the archetypal clip successful 3 weeks.

The Central Bank of Nigeria’s information showed that the Naira dropped to N1,401.40 per dollar connected Tuesday, down from N1,405.62 connected Monday.

This means that connected a day-to-day basis, the naira strengthened by N4.2 against the dollar.

The past clip the naira appreciated astatine the authoritative marketplace was connected February 17, astatine N1,335.96 per dollar; since then, the section currency has continued its depreciation rally.

Meanwhile, astatine the achromatic market, the naira remained level astatine N1,420 per dollar connected Tuesday, the aforesaid speech complaint arsenic connected Monday.

This comes arsenic Brent and West Texas Intermediate crude blends dropped beneath $90 per tube connected Tuesday for the archetypal clip since the Iran-United States-Israel warfare started connected February 28th, 2026.

As a effect of declining planetary crude lipid prices, Dangote Refinery had a little gantry petrol terms of N1075 per liter, which had hiked 3 times.

DAILY POST reports that Nigeria’s outer reserves stood astatine $49.94 cardinal connected March 6...