The naira strengthened notably against the dollar in the parallel foreign exchange market on Wednesday.
Bureau de Change operator Abubakar Alhassan reported that the exchange rate improved to ₦1,660 per dollar, up from ₦1,675 on Tuesday. This represents a ₦15 gain for the naira in the parallel market.
Similarly, in the official market, the naira showed a slight appreciation, closing at ₦1,552.58 per dollar on Wednesday, compared to ₦1,552.78 traded the previous day.
This improvement follows the Central Bank of Nigeria’s approval of the release of an FX code earlier on Wednesday.
