The Naira appreciates dollar value at the official foreign exchange market, extending its positive performance as trading closed for the Christmas holidays.
Market data showed renewed confidence in the local currency following consistent gains recorded over three consecutive trading days.
Central Bank of Nigeria figures confirmed that the Naira appreciates dollar strength on Wednesday, closing at N1,443.37 per dollar at the official window.
Official market records steady improvement
This rate represents an improvement from N1,449.99 per dollar recorded on Tuesday at the official foreign exchange market.
The data further revealed that the Naira appreciates dollar position by N13.18 since Monday, reflecting sustained upward movement this week.
Currency analysts linked the development to improved liquidity and reduced dollar demand during the festive trading period.
Parallel market shows mild stability
At the black market, the Naira appreciates dollar marginally, trading at N1,490 per dollar on Wednesday.
This marked an improvement from the N1,500 per dollar exchanged on Monday, while remaining unchanged from Tuesday’s rate.
Traders noted that the parallel market mirrored the cautious stability seen at the official window.
External reserves support currency outlook
The latest appreciation comes amid a rise in Nigeria’s external reserves, which climbed to $45.24 billion as of December 23, 2025.
Financial experts said stronger reserves have supported market confidence, ensuring the Naira appreciates dollar outlook in the short term.
They added that improved inflows and tighter monetary management could help sustain the trend.