Nigeria’s naira posted a modest recovery against the US dollar in the official foreign-exchange window on Friday, closing the first week of November 2026 with a gain after several sessions of weakness.
Official market rate edges higher
Central Bank of Nigeria figures showed the currency trading at N1,346.79 per dollar on Friday, improving from N1,348.74 per dollar a day earlier.
- The naira appreciated by N1.95 against the dollar between Thursday and Friday in the official market.
- The move represented a limited rebound following several days in which the local currency had depreciated.
- Despite Friday’s advance, recent trading across Nigeria’s currency markets has produced more losses than gains for the naira.
Parallel-market quotation unchanged
In the parallel market, commonly called the black market, the naira was quoted at N1,410 per dollar on Friday. That was unchanged from the rate recorded on Thursday.
The gap between the official and parallel-market rates remained in place as currency-market participants monitored liquidity conditions and the country’s external buffers.
Foreign reserves decline
Nigeria’s external reserves fell to $55.13 billion, based on the latest Central Bank of Nigeria data. The decline in reserve holdings comes as the naira continues to face pressure in both the official and informal foreign-exchange markets.
