Nigeria’s currency, the naira, continued its upward movement against the United States dollar at the official foreign exchange market on Friday, extending the rally recorded earlier in the week.
Data from the Central Bank of Nigeria (CBN) showed that the naira appreciated to N1,366.23 per dollar on Friday, improving from N1,371.51 recorded on Thursday. This represents a day-to-day gain of N5.28 for the local currency.
However, the situation remained unchanged at the parallel market, where the naira traded at N1,440 per dollar, the same rate observed on Thursday.
According to DAILY POST, the naira has maintained a steady appreciation at the official foreign exchange market since March 10, gaining a total of N35.17 against the dollar within four days.
In contrast, the local currency weakened slightly at the parallel market during the same period, dropping by N20, based on data gathered from several Bureau de Change operators.
Meanwhile, Nigeria’s external reserves were recorded at $50.03 billion as of March 11, 2026, indicating a relatively strong reserve position amid the currency’s recent performance.
