The Naira appreciated massively against the United States Dollar to continue its appreciation rally at the official foreign exchange market on Tuesday.
The Central Bank of Nigeria’s data showed that the Naira further strengthened to N1,344.42 against the Dollar on Tuesday, up from N1,357.77 was exchanged on Monday.
This means that the Naira recorded a significant N13.35 gain on a day-to-day basis, higher than the N8.46 appreciation on Monday.
Meanwhile, at the black market, the Naira remained flat at N1,430 per dollar on Tuesday, the same rate as on Friday.
The development amid a drop in the country’s foreign reserves to $49.87 billion as of 16 March 2026, down from $50.01 billion on the 12th, according to the apex bank data.
The currency market has Wednesday to conclude trading for the week ahead of the Eid-ul-Fitr holidays on Thursday and Friday.
