Naira bounces back to appreciation against US dollar

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On Thursday, the official foreign exchange market saw a recovery in the value of the naira relative to the US dollar.

According to data from the Central Bank of Nigeria, the Naira appreciated against the dollar on Thursday, rising from N1,420.04 on Wednesday to N1,419.28.

This indicates that on a daily basis, the Naira strengthened by N0.76 versus the dollar.

According to several Bureau De Change operators in Wuse Zone 4, Abuja, the Naira stayed steady at N1,490 per dollar on the black market on Thursday, just like it did on Wednesday.

As of January 14th, the nation’s external reserves increased to $45.82 billion from $45.78 billion the day before.

Remember the Naira’s small decline against the dollar on Wednesday?

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