Wednesday was the official foreign exchange market’s best day for the naira this week, as it maintained its ascent versus the dollar.
The naira strengthened further against the dollar on Wednesday, according to data from the Central Bank of Nigeria, trading at N1,596.68 per dollar, up from N1,599.70 on Tuesday.
A gain of N3.02 per day is reflected in this. The naira gained a more robust N3.02 per dollar on Wednesday, according to Naijatrial, compared to Tuesday, when it gained only N0.20.
At the same time, the naira lost N3 to N1608 per dollar on Wednesday in the black market, compared to N1605 exchanged the day before.
“We bought at N1602 per dollar and sell at N1608,” said Abubakar Alhasan, an operator at the Bureau of Change in Wuse Zone 4, Abuja.