The naira strengthened by N14.83 to close at N1,371.82 per dollar at Nigeria’s official market on Wednesday, according to data published the same day by the Central Bank of Nigeria. The gain represents a 1% appreciation from Tuesday’s rate of N1,386.65.
The currency’s advance follows three consecutive sessions of marginal losses, reversing a brief weakening trend after a period of relative stability.
The Central Bank data shows the rebound was driven by improved dollar liquidity at the official window, though underlying demand pressures persist. Market participants continue to monitor supply conditions and policy signals for direction in the near term.