The Naira significantly gained against the dollar at the foreign exchange market 24 hours after depreciation.
FMDQ data showed that the Naira appreciated to N1,555.75 per dollar on Wednesday from N1637.59 on Tuesday.
This represents an N81 gain against the dollar compared to N1,637.59 exchanged on Tuesday.
The appreciation on Wednesday surpassed the N57.13 depreciation recorded the previous day.
A Bureau De Change operator in Wuse Zone 4, Abuja, Dayyabu Ashiru, said that the Naira gained to N1,650 per dollar on Wednesday compared to N1,660 on Tuesday.
“We sell at N1,650 per dollar and buy at N1,645 on Wednesday,” he said.
This comes as Foreign exchange transaction turnover stood at $221.24 million on Wednesday from $197.37 million on Monday.