Naira Appreciates Against USD Amid Lower Trading Activity

The Nigerian Naira gained some strength against the US Dollar in the official market on September 7, 2026. It appreciated by 66 kobo to close at N1,320.56/$1 compared with last Friday's rate of N1,321.22/$1.

However, the local currency depreciated against the Pound Sterling and Euro in the same market. Against the Pound, it lost N2.15 to trade at N1,788.17/£1 compared with the preceding session's N1,786.02/£1. Against the Euro, it declined by 55 kobo to quote at N1,535.41/€1 versus N1,534.86/€1.

The turnover in the official market for the period through September 3 decreased to approximately $2.14 billion from $3.071 billion in the preceding week, representing a 30.3 per cent week-on-week decline.