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The naira continued its upward trend against the U.S. dollar at the official foreign exchange market on Wednesday.
Figures released by the Central Bank of Nigeria showed that the local currency strengthened further, closing at N1,418.26 to the dollar, compared with N1,419.07 recorded on Tuesday.
This movement reflects a modest day-on-day gain of 80 kobo against the dollar.
In contrast, the naira held steady at the parallel market, trading unchanged at N1,480 per dollar, the same rate seen a day earlier.
The currency’s performance has been driven by an improvement in Nigeria’s external reserves, which rose to $45.62 billion as of January 6, 2026.
