The naira on Tuesday recorded its highest appreciation against the United States dollar at the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN).
CBN figures showed that the local currency strengthened to N1,401.22 per dollar, improving from N1,418.95 recorded on Monday.
This represents a day-on-day gain of N17.73, or 1.27 per cent, marking the naira’s strongest single-day appreciation since October last year.
In contrast, the naira remained unchanged at the parallel market, trading at N1,490 to the dollar on Tuesday, the same rate as the previous day.
The recent positive movement at the official market comes amid Nigeria’s growing external reserves, which rose to $46.04 billion as of January 26, 2026.
Nigerian Newssphere reports that the naira has now posted gains for two consecutive trading sessions at the foreign exchange market.
