The naira continued its upward trajectory at the official foreign exchange market on Tuesday, appreciating to ₦1,351.02 against the United States dollar.
Figures published on the Central Bank of Nigeria (CBN)’s official platform showed that the local currency strengthened by ₦3.23 at the close of trading.
The latest performance represents a 0.23 per cent gain compared to Monday’s rate of ₦1,354.25 to the dollar, extending the naira’s recent run of modest but steady gains.
Market analysts attributed the appreciation to improved dollar liquidity and sustained interventions by the apex bank, aimed at stabilising the foreign exchange market amid cautious investor sentiment.
They noted that while the gains remain gradual, continued policy support and reforms could help reinforce confidence in the market in the coming weeks.
Trading activity was described as moderate, with dealers closely watching policy signals and liquidity conditions as authorities seek to balance reforms with broader efforts to stabilise the economy.
