The Naira gains N5.75 against the U.S. dollar at the official market, closing at N1,382.63, according to Central Bank of Nigeria data.
The Naira on Tuesday gained N5.75 at the official market, recovering from a two-day decline to close at N1,382.63 against the U.S. dollar.
Data released on the website of the Central Bank of Nigeria showed the local currency appreciated by 0.4 per cent compared to Monday’s rate of N1,388.38 per dollar after trading resumed following the Sallah break.
The Naira had maintained a steady appreciation trend before recording its first decline on Wednesday, March 18, when it traded at N1,353.90 against the dollar ahead of the holiday.
The latest gain signals renewed stability in the official foreign exchange market after short-term pressure on the local currency.
Visit GMTNewsng for more news stories.
