The naira fetched N3.78 to the dollar at the official window

Nigeria’s currency, the naira, continued its recent recovery against the United States dollar at the official window on Wednesday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,357.26/$1, compared with N1,361.04/$1 on Tuesday.

This represents a gain of N3.78 for the local currency against the dollar.

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On the black market, the naira lost N3 against the dollar, trading at N1,398/$1, compared with N1,395/$1 the previous day.

The local currency strengthened by N5 against the British Pound, trading at N1,875/£1, compared with N1,880/£1 the previous day.

The Naira closed flat against the Canadian dollar and Euro trading at N1,100/CA$1 and ₦1,610/€1 respectively.

Babajide Okeowo