Data from FMDQ shows that the Naira appreciated massively against the Dollar at the official foreign exchange market on Wednesday.
The Nigerian currency gained N1543.84 per dollar on Wednesday from N1,592.06 on Tuesday, marking a significant N48.22 appreciation.
The increase comes after the Naira lost N27.58 against the Dollar on Monday and Tuesday.
The Naira stayed flat at N1615 per Dollar on Tuesday and Wednesday at the parallel market.
The Central Bank of Nigeria disclosed in a statement on Tuesday that it is committed to stabilising Nigeria’s foreign exchange market.