The Naira recorded its first appreciation against the dollar at the official foreign exchange market on Thursday.
According to the Central Bank of Nigeria, the Naira strengthened slightly to ₦1,535.78 per dollar from ₦1,536.73 on Wednesday—an improvement of ₦0.95, or 0.062 percent.
Meanwhile, at the parallel market, the Naira remained stable at ₦1,550 per dollar.
The gain coincides with a rise in Nigeria’s external reserves, which climbed to $41.05 billion as of August 20th, up from $38.25 billion last month.