The Nigerian naira recorded a mixed performance against the United States dollar on Thursday, appreciating at the official foreign exchange market while weakening at the parallel (black) market.
According to data released by the Central Bank of Nigeria (CBN), the naira strengthened to N1,367.76 per dollar on Thursday from N1,369.64 per dollar recorded on Wednesday.
The latest movement indicates that the local currency gained N1.87 against the dollar on a day-to-day basis at the official market.
However, the reverse was the case at the parallel market, where the naira depreciated by N5 to N1,420 per dollar on Thursday, compared with N1,415 per dollar traded the previous day.
The mixed performance comes as Nigeria’s external reserves continue to rise. The country’s foreign exchange reserves increased to $52.04 billion as of July 22, 2026, reflecting sustained growth in the nation’s reserve position.
The development follows Wednesday’s trading session, during which the naira appreciated against the US dollar in both the official and parallel foreign exchange markets.
