The Nigerian Naira has recorded two consecutive days of appreciation against the United States dollar, signaling renewed investor confidence in the local currency. Market analysts attribute the gain to increased dollar inflows from exports and improved liquidity in the foreign exchange market.

Data from the Central Bank of Nigeria (CBN) showed that the Naira closed higher in both official and parallel markets, marking a notable turnaround amid weeks of relative stability. Experts note that such consecutive appreciations could help ease inflationary pressures in the economy.

Traders and investors have welcomed the development, with many highlighting that consistent gains in the Naira may support stronger purchasing power for consumers and reduce the cost of imported goods. The government has also been praised for efforts to stabilize the currency through various fiscal and monetary measures.

Despite the positive momentum, analysts caution that sustaining the Naira’s strength will require continued foreign inflows, effective policy enforcement, and vigilance against speculative activities. They advise stakeholders to monitor the FX market closely for potential volatility.