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At the official market on Wednesday, the Naira's value against the dollar slightly rose.
According to FMDQ data, the dollar was quoted at N461.24 on Wednesday compared to N461.75 on Tuesday at the Investors and Exporters (I&E) currency window, showing a 0.11 percent increase in the value of the naira.
The majority of currency traders who took part in the Wednesday foreign exchange market auction kept their bids within the range of N459.50 (low) and N462.13 (high) per dollar.
On Wednesday, the naira maintained its level of N745 to the dollar on the parallel market, also known as the dark market.
Nigeria's foreign exchange reserves rose from $35.64 billion on March 27, 2023 to $36.67 billion on March 28, 2023, a rise of 2.9 percent in a single day.
The current US$36 billion in external reserves, according to analysts at FSDH research, can cover about 6-7 imports of products and services.
