The naira strengthened versus the US dollar on Wednesday for a third straight session at Nigeria’s official foreign-exchange window. Central Bank of Nigeria data showed the currency ended the day at N1,357.26 per dollar, compared with N1,361.05 on Tuesday.
That translates to a daily gain of N3.79 against the dollar in the official market, extending the currency’s recent improvement. Over the three-day stretch, the naira has moved higher by a total of N9.50 versus the greenback, according to the same reporting.
Quick facts
- In the official FX market, the naira closed at N1,357.26 per dollar on Wednesday versus N1,361.05 on Tuesday.
- This represents a day-to-day appreciation of N3.79 against the US dollar.
- Over three consecutive days, the naira has gained N9.50 against the dollar in the official market.
- In the black market, the naira held steady at N1,395 per dollar on Wednesday, unchanged from the previous day.
- Foreign reserves rose to $49.88 billion on June 2, 2026 from $49.80 billion the prior day.
In the parallel market, the currency did not move: the naira remained at N1,395 per dollar on Wednesday, the same level recorded a day earlier. The gap between the official rate and the black-market rate persisted, reflecting continued segmentation in demand and supply conditions.
The firmness in the official window coincided with an increase in Nigeria’s external reserves. The Central Bank reported that reserves climbed to $49.88 billion as of June 2, 2026, up from $49.80 billion on the previous day.
The latest improvement follows gains recorded on Tuesday and Monday, keeping the naira’s three-day appreciation streak intact at the official foreign-exchange market.
