The naira for the second day running gained further against the dollar in the foreign currency market on Wednesday.
According to data from FMDQ, the naira gained further to N1,510.72 per dollar on Wednesday from N1,522.28 on Tuesday, an appreciation of N11.58.
The naira also slid to N1,623 per dollar on Wednesday from N1,625 traded on Tuesday on the black market.
The recent appreciation of the naira follows the Central Bank of Nigeria’s introduction of a new FX Code on Tuesday, targeted at ensuring transparency in transactions in the country’s foreign currency market.
It is pertinent to note that the naira had appreciated against the dollar on Tuesday.
