The Nigerian naira on Wednesday posted its strongest appreciation against the United States dollar in three weeks at the official foreign exchange market, as the country’s external reserves rose to $50.01 billion.

According to data released by the Central Bank of Nigeria (CBN), the naira strengthened to N1,376.19 per dollar on Wednesday, improving from N1,401.40 per dollar recorded on Tuesday.

The movement represents a N25.21 gain for the local currency on a day-to-day basis, marking its best performance in the past three weeks. The appreciation followed a break in the recent depreciation trend observed against the dollar earlier in the week.

However, the naira recorded a slight decline at the parallel market, where it weakened by N10 to N1,430 per dollar on Wednesday, compared with N1,420 per dollar traded the previous day.

Meanwhile, figures from the Central Bank of Nigeria also showed that Nigeria’s foreign reserves increased to $50.01 billion as of March 10, 2026, rising from $49.99 billion recorded on March 9.