The naira continued appreciating against the dollar on Wednesday at the official foreign exchange market after the Eid-el-Fitr holidays.
The Central Bank of Nigeriaā€™s data showed that the naira strengthened to N1,531.25 per dollar on Wednesday from N1,536.82 recorded last Friday.
This means that the naira gained N5.57 per dollar on a day-to-day basis.
Meanwhile, on the black market, the naira depreciated to N1,555 per dollar on Wednesday from N1,550 traded on Friday before the Eid-el-Fitr holidays.
Media Talk Africa reports that over the weekend, the Central Bank of Nigeria announced that the Net Foreign Exchange Reserve, NFER, stood at $23.11 billion, the highest level in over three years.
