The Nigerian currency strengthened on Friday, closing at ₦1,363.5 per dollar at the official foreign exchange market after recovering from an earlier decline during the week.
Data from the Central Bank of Nigeria (CBN) showed the Nigerian Naira had fallen sharply to ₦1,425 per dollar on Monday, compared with ₦1,398 per dollar recorded the previous Friday. The drop represented the currency’s weakest closing level since January 12, 2026, when it last traded at the same rate.
The naira began to regain strength by Tuesday, appreciating to ₦1,390.5 per dollar. The recovery continued midweek, with the currency improving to ₦1,373.5 per dollar on Wednesday and further strengthening to ₦1,370 per dollar on Thursday.
By Friday, the naira had extended its gains, closing at ₦1,363.5 per dollar, marking an improvement of more than ₦60 within four trading days after the early-week decline.
According to the Central Bank, Nigeria’s improving external reserves may help support the currency against sustained pressure. The apex bank noted that the country’s net foreign exchange reserves rose to $34.80 billion by the end of 2025, indicating stronger external liquidity.
The governor of the Central Bank of Nigeria, Olayemi Cardoso, stated that ongoing monetary and foreign exchange reforms are designed to boost investor confidence and enhance market liquidity.
