The Naira on Wednesday exchanged at 419 to the dollar at the Investors and Exporters window, in comparison to 419.50 on Tuesday, representing a 0.12 percent gain.
Newsbreak reports that the open indicative rate closed at N418.21 to the dollar on Wednesday.
An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N419.
The Naira sold for as low as 410 to the dollar within the day’s trading.
A total of 171.98 million dollars was traded in foreign exchange at the official Investors and Exporters window on Wednesday.
Meanwhile, singer David Adeleke, popularly known as Davido, has decried the rise in the dollar to naira exchange rate.
Davido on his verified Twitter handle said the dollar to naira exchange rate is heading to N1,000 to a $1 if the rise persists.
He insisted drastic action must be taken to forestall such “doomsday” reality.
He tweeted: “Dollar heading to 1k. drastic action is needed.”