Naira Exchange Rate Improves As Nigerian Currency Strengthens Against Dollar
The Nigerian exchange rate ended the week on a positive note on Friday, as the naira strengthened against the dollar at the official foreign exchange market. This data, released by the Central Bank of Nigeria, showed a continuous improvement in the FX exchange market, reflecting growing stability in the FX space.
According to the CBN figures, the naira strengthened to N1,417.95 per dollar on Friday, compared to the N1,419.28 that was recorded on Thursday. This indicates a day-to-day gain of N1.33 for the naira at the official foreign exchange window.
At the parallel market, the exchange rate remained unchanged as it traded at N1,490 per dollar. Hassan Abubakar, a bureau de change operator, confirmed that the rate stayed stable for most of the week, suggesting reduced volatility in the black market.
While on a week by week basis, the naira exchange rate showed even stronger performance against the dollar. Reports indicate that the naira appreciated by N5.22 when compared with the N1,423.17 exchanged last Friday at the official market.
The latest improvement in the local currency exchange rate to the dollar comes amid a rise in Nigeria’s external reserves. As of January 15, 2026, the country’s foreign reserves stood at 45.86 billion dollars, a development that continues to support confidence in the local currency.
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