The naira on Wednesday climbed to a two-month high of N1,565.46 per dollar at the official foreign exchange (FX) market, maintaining a trajectory of relative stability that has persisted in recent months.
The last time the local currency traded near this level was on April 4, 2024, when the dollar exchanged at N1,567.02 in the Nigerian Foreign Exchange Market (NFEM), according to data published by the Central Bank of Nigeria (CBN).
By the close of trading on Wednesday, the naira had appreciated by N13.82 against the dollar, with the greenback quoted at N1,565.46. This represents a 0.9% gain when compared to the N1,579.28 recorded on Tuesday in the official FX window.