The naira rebounded, gaining N14.83 against the dollar in the official market

Nigeria’s currency, the naira, strengthened 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 N1,371.82/$1, compared with N1,386.65/$1 on Tuesday.

This represents a gain of N14.83 for the local currency against the dollar.

On the black market, the naira closed flat against the American dollar, trading at N1,410/$1.

The local currency strengthened by N10 against the British Pound, trading at N1,910/£1, compared with N1,920/£1 the previous day.

The naira closed flat against the Canadian dollar and traded at N1,000/CA$1.

It gained N15 against the euro, trading at ₦1,615/€1, compared with the previous day’s ₦1,630/€1.

Babajide Okeowo