On Wednesday, the Nigerian Naira experienced a recovery against the United States dollar within the official foreign exchange window. According to figures released by the Central Bank of Nigeria, the currency climbed to N1,360.58 per dollar, showing improvement from the previous day’s rate of N1,364.89.
This shift represents a daily gain of N4.31, effectively offsetting the decline noted on Tuesday. Conversely, the unofficial black market saw the Naira slip by N1, moving to a rate of N1,430 against the dollar compared to the N1,429 recorded on Tuesday.
These fluctuating trends across exchange platforms coincide with a growth in the nation’s foreign reserves, which reached $52.17 billion as of August 11, 2026. The current movement contrasts with the performance on Tuesday, when the Naira had fallen in official trading but saw a slight increase in the parallel market.
