The Naira continued its upward trend against the United States Dollar across both the official and parallel foreign exchange markets on Wednesday.
According to data from the Central Bank of Nigeria (CBN), the local currency appreciated to N1,348.95 per dollar, improving from N1,351.02 recorded previously. This represents a day-on-day gain of N2.07.
Over the past three trading days, the Naira has strengthened by a total of N5.51 at the official foreign exchange market.
In the parallel market, the Naira also improved, rising to N1,445 per dollar on Wednesday compared to N1,450 the previous day.
The recent gains follow the CBN’s directive permitting the sale of up to $150,000 weekly to licensed Bureau De Change (BDC) operators.
Meanwhile, Nigeria’s foreign reserves increased to $47.38 billion as of February 9, 2026, up from $47.03 billion recorded on February 6.