The naira gained further ground against the US dollar in Nigeria’s official foreign-exchange market on Tuesday, extending the improvement recorded a day earlier.
Key takeaways
- The official exchange rate moved to N1,362.55 per dollar from N1,364.83.
- The currency’s daily gain amounted to N2.28 against the dollar.
- The parallel-market rate held steady at N1,425 per dollar.
- Nigeria’s external reserves climbed to $51.94 billion by August 3, 2026.
Official-market rate strengthens
Central Bank of Nigeria figures put the naira at N1,362.55 to the dollar on Tuesday, compared with N1,364.83 on Monday. The move represents a N2.28 appreciation from one trading day to the next.
Parallel rate and reserves
In the black market, the exchange rate was unchanged at N1,425 per dollar, matching Monday’s level.
The latest official-market improvement came as Nigeria’s external reserves continued to increase, reaching $51.94 billion as of August 3, 2026. The naira had also registered a gain against the dollar in the official market on Monday.
