On Tuesday, the naira appreciated a bit against the dollar at the official foreign exchange market. According to data from the Central Bank of Nigeria, the naira’s value increased slightly, reaching N1,599.70 per dollar, up from N1,599.94 on Monday. This shows that the naira strengthened by N0.20 against the dollar in just one day.

However, the naira’s value remained unchanged at the black market, staying at N1,605 per dollar, the same as the rate on Monday. Abubakar Alhasan, a Bureau de Change operator in Wuse Zone, Abuja, confirmed this, stating that the buying rate was N1,600 and the selling rate was N1,605.

The naira has been stable recently, and it started this week with small gains at the black market.