The Nigerian naira recorded a marginal appreciation against the United States dollar at the official foreign exchange market following the Eid-ul-Adha holidays.
Data released by the Central Bank of Nigeria (CBN) showed that the naira strengthened to N1,373.25 per dollar on Friday, compared to N1,375.41 exchanged on Tuesday before the holiday break.
The latest development indicates that the local currency gained N2.16 against the dollar at the official market during the period under review.
However, activity at the parallel market remained unchanged, with the naira trading at N1,395 per dollar on Friday, the same rate recorded before the holidays.
The differing performances across the official and parallel markets come as Nigeria’s external reserves stood at $49.34 billion as of May 26, 2026, according to available data.
The improvement in the official exchange rate marks a reversal from the trend recorded before the Eid-ul-Adha celebrations, when the naira weakened against the dollar at the official foreign exchange window.
