Nigeria’s naira posted a notable week-on-week gain against the US dollar in the official foreign-exchange market by the close of trading on Friday, while the currency lost ground in the parallel market.
- Central Bank of Nigeria data put the official exchange rate at N1,346.26 per dollar on Friday, compared with N1,361.84 on October 23, 2026.
- The movement represents a N15.58 appreciation for the naira against the dollar over the week.
- In the parallel, or black-market, segment, the currency moved in the opposite direction, declining by N15 week on week to finish at N1,390 per dollar on Friday.
Reserve movements and market divergence
The differing performance across the official and parallel currency markets came as Nigeria’s foreign-exchange reserves fell by $20 million over two days, despite recording a net $60 million increase during the week.
On Friday, the naira therefore strengthened in the official market but weakened in informal dollar trading, underscoring the continuing gap between the two exchange-rate channels.
