The naira opened the week stronger against the US dollar, posting gains in both the official foreign-exchange market and the parallel market on Monday.
Official Market Records Mild Gain
Data from Nigeria’s central bank put the currency at N1,329.80 per dollar on Monday, compared with N1,331.20 at Friday’s close. The movement represented a N1.40 improvement in the naira’s value against the dollar from the end of the previous week.
Parallel-Market Rate Also Improves
- In the parallel market, the naira strengthened by N2, moving to N1,390 per dollar from N1,392 on Friday.
- The advances came after the currency had already posted a modest rise in the official market last week, ending the period on a firmer footing.
Reserves Remain at $54.70 Billion
The latest exchange-rate movements occurred as Nigeria’s external reserves were recorded at $54.70 billion on September 18, 2026. The reserve position remains a key indicator of the country’s capacity to support foreign-exchange liquidity and meet external obligations.
