Official Market Records Naira’s Biggest Single-Day Gain Against Dollar

The naira recorded its highest single-day gain against the US dollar on Wednesday at the official foreign exchange market, continuing a three-day streak of appreciation. According to data from the Central Bank of Nigeria, the naira strengthened to N1,565.46 per dollar, up from N1,579.27 on Tuesday. This marks a significant day-to-day gain of N13.81—the largest since Monday, June 2, 2025.

Wednesday’s gain exceeded the combined appreciation of N6.88 recorded on both Monday and Tuesday, signaling growing momentum for the local currency. The improvement in the naira’s value reflects ongoing efforts to stabilize the foreign exchange market and may indicate renewed confidence among market participants.

In the parallel market, a Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, confirmed that the naira also gained marginally, trading at N1,613 per dollar on Wednesday compared to N1,614 the previous day. “We buy at N1,600 and sell at N1,613 today, compared to N1,615 on Tuesday,” he said.