Naira gains N3.42 against dollar as IMF hails CBN foreign exchange reforms
The Naira on Wednesday gained N3.42 against the dollar, trading N1526.15 at the official market amid commendation by the International Monetary Fund (IMF).
Data obtained from the website of the Central Bank of Nigeria (CBN) showed that the Naira appreciated by 0.22 per cent.
The local currency traded on Tuesday at N1,529.57 to a dollar.
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Meanwhile, the IMF in its 2025 Article IV Consultation report on Nigeria, has praised CBN on its reforms on foreign exchange (forex) market, which supported price discovery and liquidity.
IMF said the reforms to the forex market and foreign exchange interventions (FXIs) had brought stability to the Naira.
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It explained CBN’s measures had curbed forex volatility and improved transparency and market integrity. (NAN)
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