The naira to dollar exchange rate following trading on Wednesday stands at N1,599.7991 per dollar.
According to the Central Bank of Nigeria (CBN) on its official website, the naira reached a peak of N1,620 on the Nigerian Foreign Exchange Market (NFEM) before settling at the current rate.
In the parallel market, often referred to as the black market, the Nigerian currency also demonstrated signs of stability, trading at N1,605 per dollar in Enugu and N1,610 in Lagos and Abuja.
These latest figures indicate that the local currency is exhibiting positive signs of recovery, which experts attribute to improved supply from the apex bank.
