The naira appreciated further at the official market on Wednesday, March 11, 2026, trading at N1,376.19 to the United States dollar.
Data released by the Central Bank of Nigeria (CBN) showed that the naira gained N25.20 against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The gain represents a 1.8 per cent appreciation compared with Tuesday’s closing rate of N1,401.40 to the dollar at the same market.
The local currency had earlier recorded about two weeks of depreciation before staging a recovery on Tuesday and extending gains on Wednesday.
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Market analysts said improved foreign exchange supply and sustained reforms were gradually boosting confidence in the official market.
Some traders also linked the appreciation to increased inflows from exporters and foreign portfolio investors participating in the market.
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