The naira appreciated against the US dollar exchanging at N1,539 at the official Investor and Exporter, I&E, window on Wednesday, following a 50-basis point rate cut by the U.S. Federal Reserve which weakened the dollar.
This marks a 7.05% gain from the N1,656 recorded on Tuesday September 17, when the naira briefly crossed the N1,600 threshold due to heightened market volatility.
Also Read: Naira Strengthens Against Dollar At Parallel, Official Markets
If market conditions remain favourable, the currency could further appreciate into the N1,400 zone in the coming days.
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