The naira on Wednesday appreciated further at the official foreign exchange (FX) market, a day after the Central Bank of Nigeria (CBN) launched the Non-Resident Diaspora Bank Verification Number (NRBVN).
After trading yesterday, the naira gained N3.33 as the dollar was quoted at N1,596.70, marking a gain of 0.2 percent compared to N1,600.03 quoted on Tuesday at the Nigerian Foreign Exchange Market (NFEM), data from the CBN showed.
In the parallel market, commonly referred to as the black market, the naira weakened by N2 on Wednesday, with the dollar exchanging at N1,627 compared to N1,625/$ on Tuesday.