Naira appreciates against dollar, closes at N742 at official window

The naira recorded a significant gain against the dollar on Tuesday as it closed at N742.10 at the official window, according to data from the Central Bank of Nigeria (CBN). This represents a 4.06 percent increase compared to the N773.50 it traded for on Monday. The naira also gained 6.58 percent from the N794.50 it opened at on Tuesday.

The appreciation of the naira was attributed to the CBN’s efforts to unify the exchange rate windows in the country and increase the supply of foreign exchange to the market.