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Naira bounces back to appreciation against US dollar - DAILY POST
The naira on Thursday bounced back to appreciation against the United States dollar at the official foreign exchange market.
The Central Bank of Nigeria’s data showed that the Naira strengthened on Thursday to N1,419.28 against the dollar, up from N1,420.04 on Wednesday.
This means that the Naira firmed up by N0.76 against the dollar on a day-to-day basis.
Meanwhile, at the black market, the Naira remained stable at N1,490 per dollar on Thursday, the same as on Wednesday, according to multiple Bureau De Change operators in Wuse Zone 4, Abuja.
The development comes as the country’s external reserves rose further to $45.82 billion as of January 14th, up from $45.78 the previous day.
Recall that the Naira on Wednesday dropped slightly against the dollar.
