Naira Soars Against Dollar, Closes Week Stronger

The Nigerian naira has continued its positive trend against the US dollar at the official foreign exchange market, closing the week on a stronger note.

Data from the Central Bank of Nigeria shows that the naira appreciated to N1,326.52 per dollar on Friday, compared to N1,328.22 recorded on Thursday, indicating a gain of N1.70 against the dollar within one day.

Although the local currency remained unchanged at the parallel market, where the dollar was exchanged at N1,390 on Friday, this recent trend suggests that the naira has been recording more gains than losses at the official foreign exchange market in recent times.

The improvement in the naira's performance comes as Nigeria's foreign exchange reserves continue to rise, increasing to $54.41 billion as of September 10, 2026, which is expected to provide stronger support for the naira and improve the country's ability to meet its foreign exchange obligations.