Naira Appreciates Against Dollar For The First Time In Three Weeks

Sharing is caring

The Naira, on Wednesday, appreciated against the US Dollar on the unofficial parallel market, commonly referred to as the black market.


In Wednesday’s trading, the exchange rate was N1,300 per dollar, representing a 0.76% increase (N10) compared to the N1,310 rate recorded on Tuesday on the black market.

The persistent foreign exchange pressure, exacerbated by the Naira reaching as low as N1,310 per dollar, showed signs of improvement on Wednesday as demand slightly eased.

Soludo Swears in New Commissioner For Special Duties

The most recent instance of Naira appreciation occurred on October 3, 2023, when it increased by 0.79% (N8) against the US Dollar.

On Tuesday, the Naira experienced a significant 6.86% depreciation after having strengthened by 1.85% against the dollar on Monday at the Nigerian Autonomous Foreign Exchange Market (NAFEM).

One thought on “Naira Appreciates Against Dollar For The First Time In Three Weeks

Leave a Reply

Your email address will not be published. Required fields are marked *