Market News
Naira records first appreciation - DAILY POST
The Naira recorded its first appreciation against the United States Dollar on Wednesday, 1st April 2026, at the official foreign exchange market this week so far.
The Central Bank of Nigeria’s data showed that the naira strengthened to N1,378.70 against the dollar on Wednesday, up from N1,386.72 traded on Tuesday.
This means that the Naira gained N8.02 against it on a day-to-day basis after two days of depreciation in the week under review.
At the black market, it dropped by N5 per dollar to N1,420 per dollar on Wednesday, up from N1,425 the previous day.
This comes amid the sustained depreciation rally of the country’s foreign reserves, which dropped to $49.29 billion on 30th March 2026, down from $49.85 billion recorded on 2nd March, according to CBN data.
