...As oil inflows record positive impact on FX reserves
The naira recorded its strongest gain in seven months on Wednesday, buoyed by robust foreign reserves that saw a $4.1 billion rise between July and August.
Data from the Central Bank of Nigeria (CBN) showed that the local currency strengthened to N1,506.08 to a dollar on Wednesday at the Nigerian Foreign Exchange Market (NFEM). The naira previously reached this mark on March 5, 2025, when it closed at N1, 500.80/$.
The naira has continued to enjoy rare stability, driven b
