The naira strengthened further against the US dollar on Thursday, with the official exchange rate improving to N1,357.65 from N1,360.58 a day earlier, Central Bank of Nigeria figures showed. The move represented a N2.93 gain for the Nigerian currency in one session. In the parallel market, the naira also advanced, trading at N1,425 per dollar compared with N1,430 on Wednesday, a N5 improvement. The latest gains came as Nigeria’s foreign-exchange reserves climbed to $52.19 billion on Wednesday. The currency had already posted a N4.31 rise against the dollar at the official market in Wednesday’s trading.
