The naira strengthened further against the US dollar on Friday at Nigeria’s official foreign exchange market, providing a positive finish to the week. Data from the Central Bank of Nigeria showed the currency rose to 1,380.19 naira per dollar on Friday, compared with 1,381.53 naira per dollar traded on Thursday. That move translated into a day-to-day gain of 1.30 naira, marking the third appreciation recorded during the period under review.
In contrast, the currency was unchanged in the informal market. The naira held steady at 1,430 naira per dollar on Friday, the same level as the previous day, even as the central bank rolled out updated operating rules for licensed bureau de change firms.
The divergent signals across the two segments of the currency market came as Nigeria’s foreign reserves were reported at 51.92 billion US dollars as of July 16, 2026.
