Naira Strengthens Against Dollar in Black Market

The naira showed further improvement against the dollar on Wednesday in the parallel foreign exchange market.

Alhasan Abubakar, a Bureau de Change operator in Wuye Zone 2, Abuja, reported that the naira traded at N1,660 per dollar on Wednesday, compared to N1,675 on Tuesday. This reflects a gain of N15 against the dollar.

However, in the official market, the naira experienced a slight decline, closing at N1,544.20 per dollar on Wednesday, down from N1,544.05 on Tuesday, marking a loss of N0.15.

On Tuesday, the naira had strengthened against the dollar in both foreign exchange markets.