The naira recorded two consecutive appreciations against the United States dollar at the official foreign exchange market on Tuesday.
Data from the Central Bank of Nigeria showed that the naira
strengthened further to N1,449.99 against the dollar on Tuesday, up from
N1,456.56 traded on Monday.
This represents a gain of N6.67 against the dollar on a
day-to-day basis.
The naira has recorded a 14.50-point gain over the past two
days, reversing losses recorded last week at the official FX market.
Similarly, in the black market, the naira appreciated by N10
to close at N1,490 against the dollar on Tuesday, compared with N1,500 the
previous day.
The development comes as the country’s external reserves
rose to $45.23 billion on Monday, up from $45.22 billion.
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