The Naira on Wednesday recorded the highest appreciation against the United States dollar at the official foreign exchange market this week.

The Central Bank of Nigeria’s foreign exchange data showed that the Naira firmed up significantly to N1,372.41 against the dollar, up from N1,379.68 exchanged on Tuesday.

This means that on a day-to-day basis, the Naira strengthened by N7.27 against the dollar, the highest in the week under review.

Meanwhile, at the black market, the Nigerian currency remained flat at N1,139.5 per dollar on Wednesday, the same rate traded on Tuesday.

In the past two days, the Naira has appreciated against the dollar at the official foreign exchange market.

The development comes as the country’s foreign reserves rose further to $51.46 billion.

DAILY POST reports that the apex bank on Wednesday withdrew the licenses of 46 microfinance banks, including illegal credit and Sycamore banks.