Naira Stabilizes at N1,365.69 as Foreign Inflows Soar 59%

The Nigerian naira has stabilized at N1,365.69 to the US dollar in the official foreign exchange market, marking its firmest stretch in months.

This stability is attributed to improved dollar inflows and tighter demand, which have eased pressure on the currency.

Total inflows into Nigeria's foreign exchange market rose by 59% in July 2026, reaching $4.4 billion, with domestic sources accounting for more than half of this amount at $2.9 billion.

The Central Bank of Nigeria sold approximately US$1.4 billion to authorized dealers and exporters, while export proceeds increased due to higher crude oil production and relatively firm oil prices.