The Nigerian naira started the new week and the month of June 2026 on a firmer footing, strengthening against the US dollar at the official foreign-exchange window on Monday. Data from the Central Bank of Nigeria (CBN) showed the local currency rose to 1,366.79 naira per dollar, improving from 1,373.26 naira per dollar traded on Friday. That movement translates into a gain of 6.47 naira versus the dollar in the official market.
Naira strengthens at the official FX window
CBN figures indicated that the appreciation on Monday marked a positive opening for traders at the regulated rate. The official market rate moved to 1,366.79 naira per dollar from 1,373.26 on Friday, a net improvement of 6.47 naira against the US currency.
Black market rate steady, wider spread remains
In parallel, the black market rate was reported as unchanged. A Bureau de Change operator, Abubakar Bengazzi, said the naira traded at 1,395 naira per dollar on Monday—matching the level recorded on Friday.
- Black market rate on Monday: 1,395 naira per US dollar
- Black market rate on Friday: 1,395 naira per US dollar
- Implied gap between black market and official market: 28.21 naira per dollar
Foreign reserves and recent trend
The CBN also reported that Nigeria’s foreign reserves stood at 49.58 billion US dollars as of May 29, 2026. The latest official-market uptick comes after Friday’s session, when the naira had also strengthened to end the week on a bullish note.
- Foreign reserves (as of May 29, 2026): 49.58 billion US dollars
- Recent direction: appreciation at the end of the prior week, continuing positive momentum on Monday
