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The naira continued its upward trend on Wednesday, May 14, 2025, appreciating further at the official market and closing at N1,596.70 to the United States dollar.
According to data released on the Central Bank of Nigeria’s website, the local currency gained N3.33 against the dollar.
This improvement represents a 0.21 per cent appreciation compared to the rate of N1,600.03 per dollar recorded at the close of trading on Tuesday.
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The naira had already shown signs of resilience earlier in the week, gaining 0.02 per cent on Tuesday against the dollar.
Analysts attribute the recent strengthening of the naira to improved foreign exchange liquidity and sustained interventions by CBN.
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