The Nigerian naira recorded a notable appreciation against the United States dollar at the official foreign exchange market on Monday, beginning the new week and the month of June 2026 on a positive note.
Data released by the Central Bank of Nigeria, CBN, showed that the naira strengthened to N1,366.79 per dollar on Monday, compared to N1,373.26 per dollar recorded at the close of trading on Friday.
The latest development indicates that the local currency gained N6.47 against the greenback at the official market.
Meanwhile, activity at the parallel market remained unchanged. A Bureau de Change operator, Abubakar Bengazzi, told DAILY POST that the naira traded at N1,395 per dollar on Monday, maintaining the same exchange rate recorded at the close of business on Friday.
As a result, the gap between the official and parallel market exchange rates narrowed to N28.21 per dollar.
The appreciation comes amid sustained stability in Nigeria’s external reserves, which stood at $49.58 billion as of May 29, 2026, according to data from the apex bank.
The latest gain extends the naira’s positive performance from last week, when the currency also closed stronger against the dollar at the official foreign exchange market.
