Naira strengthens further against US dollar in official market

The naira further appreciated against the US dollar on Tuesday, trading at N1,343.32 in the official market, according to the People’s Gazette, citing Central Bank of Nigeria data. The currency gained N6.21, representing a 0.4 per cent appreciation compared with Monday’s rate of N1,349.53 per dollar.

The appreciation reflects the naira’s recent relative stability amid ongoing reforms by the apex bank. The CBN has sustained measures to improve foreign exchange market transparency, strengthen liquidity, and restore investor confidence. Analysts say the naira’s latest performance signals continued progress toward achieving greater exchange rate stability nationwide.