Nigeria’s currency, the naira, appreciated against the dollar across official and parallel foreign exchange markets on Wednesday.
This is a recovery from the loss it suffered earlier.
Official exchange rate data from the Central Bank of Nigeria showed that the naira strengthened to N1,584.49 against the dollar on Wednesday from N1,590.45 traded on Tuesday.
The figure shows that the naira gained N5.96 against the dollar on a day-to-day basis.
Similarly, the naira appreciated by N3 to N1,625 per dollar on Wednesday, and N1628 exchanged on Tuesday.
The appreciation makes it the first time the naira has strengthened across FX markets this week.