Naira records highest appreciation against US dollar as foreign reserves hit $50.01bn

The naira on Wednesday recorded its highest appreciation against the US dollar in three weeks at the official foreign exchange market as Nigeria’s foreign reserves rose to $50.01 billion. Data from the Central Bank of Nigeria, CBN, showed that the local currency strengthened to N1,376.19 per dollar on Wednesday, compared to N1,401.40 recorded on Tuesday.

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