CBN data shows naira continues recovery with third consecutive gain

The Nigerian naira continued to strengthen against the United States dollar on Wednesday, marking its third consecutive day of appreciation at the official foreign exchange market.

According to data from the Central Bank of Nigeria (CBN), the naira closed at N1,357.26 per dollar on Wednesday, compared to N1,361.05 per dollar on Tuesday.

This represents a gain of N3.79 against the dollar in one day. Over the last three trading sessions, the naira has appreciated by a total of N9.50 against the US currency.

Meanwhile, the exchange rate at the parallel market, commonly known as the black market, remained unchanged at N1,395 per dollar, the same rate recorded on Tuesday.

The improvement in the naira’s value comes as Nigeria’s foreign reserves increased to $49.88 billion as of June 2, 2026, up from $49.80 billion recorded a day earlier, according to CBN figures.

The latest gain follows similar improvements recorded by the naira on Monday and Tuesday, extending its positive run against the dollar.