The naira posted a marginal gain against the United States dollar at the official foreign exchange market on Wednesday, closing stronger at ₦1,343.74/$1.
Data released by the Central Bank of Nigeria showed the local currency appreciated by ₦0.02 compared with Tuesday’s closing rate.
The modest rise came amid continued pressure in the wider foreign exchange market, where movements remained mixed across key currency segments.
At the parallel market, the naira also improved, gaining ₦3 to trade at ₦1,402/$1, up from the previous rate of ₦1,405/$1.
Against the British pound, however, the local currency weakened by ₦5, closing at ₦1,895/£1 compared with ₦1,890/£1 recorded a day earlier.
The naira maintained a stable position against the Canadian dollar and the euro, closing unchanged at ₦1,100/CA$1 and ₦1,615/€1 respectively.
Market watchers say the latest figures reflect cautious trading conditions as demand for foreign exchange and liquidity levels continue to shape currency performance.