The Nigerian naira strengthened against the US dollar on Thursday at the official foreign exchange window, continuing a recent trend of gains as external reserves climbed. The Central Bank of Nigeria data showed the currency moved to 1,367.76 naira per dollar on Thursday, compared with 1,369.64 naira per dollar recorded on Wednesday. On a day-to-day basis, that translated into a rise of 1.87 naira versus the dollar at the official market.
Official market: naira gains modestly
The Central Bank’s figures indicate the naira’s improvement at the official exchange rate was small but positive, with Thursday’s rate strengthening relative to Wednesday’s reading.
- Thursday (official): 1,367.76 naira per US dollar
- Wednesday (official): 1,369.64 naira per US dollar
- Day-on-day change (official): +1.87 naira per dollar
Parallel market: depreciation persists
Despite the improvement in the official market, the naira weakened in the parallel (black) market on Thursday. Traders quoted the currency at 1,420 naira per dollar, after it had been 1,415 naira per dollar on Wednesday.
- Thursday (parallel): 1,420 naira per US dollar
- Wednesday (parallel): 1,415 naira per US dollar
- Day-on-day change (parallel): -5 naira per dollar
Reserves climb; recent direction is mixed across markets
The currency moves come alongside continued strength in Nigeria’s external reserves. Reserves rose to 52.04 billion US dollars as of July 22, 2026.
It also follows a different market pattern seen on Wednesday, when the naira appreciated in both the official and parallel foreign exchange markets.
