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Naira bounces back against dollar - DAILY POST
The naira bounced back against the dollar at the official foreign exchange market on Wednesday after two days of depreciation.
The Central Bank of Nigeria’s official data indicated that the Naira appreciated marginally to N1,537.07 per dollar on Wednesday, up from N1,537.61 traded on Tuesday.
This means that the Naira weakened marginally by N0.54 on a day-to-day basis.
Meanwhile, at the black market, the Naira remained flat at N1548 per dollar on Wednesday, the same rate exchanged on Tuesday, Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, confirmed.
This follows a day-to-day surge in the country’s external reserves to $41.22 billion as of Tuesday, up from $41.19 billion on Monday, according to CBN data.
DAILY POST recalls that on Monday and Tuesday, the Naira weakened to N1,536.42 and N1,537.61 per dollar, respectively, at the official foreign exchange market.
