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Business

Naira bounces back, gains N5.75 against U.S. Dollar after two-day decline

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4 weeks ago

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The Naira regained value on Tuesday, bouncing back from a two-day decline to close at N1,382.63 against the U.S. dollar at the official market.

Data from the Central Bank of Nigeria (CBN) showed that the Naira appreciated by N5.75, marking a 0.4 per cent increase compared to Monday, when it traded at N1,388.38 to the dollar following the resumption of trading after the Sallah break.

The local currency had been steadily gaining before recording its first drop on Wednesday, March 18, prior to the holiday break, when it exchanged at N1,353.90 per dollar.

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