News Update
THE Naira recorded a marginal appreciation against the United States Dollar at the official foreign exchange market on Monday, ending a four-day streak of depreciation and beginning the week on a stronger footing.
Data released by the Central Bank of Nigeria, CBN, showed that the Naira closed at N1,369.11 to the Dollar at the official market, improving from N1,370.46 recorded at the close of trading on Friday.
The latest figures indicate that the Naira gained N1.35 against the greenback compared with the previous trading session, reversing the losses it suffered during most of last week.
At the parallel market, however, the exchange rate remained unchanged, with the naira trading at N1,400 per Dollar, the same level observed at the end of last week.
The CBN, in its published exchange rate data, stated that, “The Naira exchanged at N1,369.11 against the Dollar on Monday,” reflecting a slight recovery in the official market.
The development came amid a further increase in Nigeria’s external reserves, which climbed to 51.06 billion Dollars as of 19 June 2026, according to figures published by the apex bank.
The rise in reserves is seen as one of the indicators closely monitored by investors and market participants as authorities continue efforts to stabilise the foreign exchange market and support the value of the local currency.
Last week, the naira experienced persistent pressure across the official market, weakening on most trading days after opening the week with an initial gain.
Financial analysts have continued to monitor movements in the exchange rate alongside the country’s reserve position, which has risen steadily in recent weeks.
The latest appreciation marks the first gain for the naira this week and comes as stakeholders await further monetary and fiscal measures aimed at sustaining stability in Nigeria’s foreign exchange market.