The Nigerian naira firmed modestly versus the US dollar at the official foreign-exchange window on Thursday, even as the rate in the parallel market held steady. The Central Bank of Nigeria’s latest figures showed the currency strengthening slightly to 1,378.43 naira per dollar on Thursday, compared with 1,379.07 naira per dollar traded on Wednesday. On a day-to-day basis, that represented an improvement of 0.64 naira.
In Abuja’s parallel market, the naira did not move. A bureau de change operator in Wuse Zone 4, Abubakar Bengazzi, said the dollar was sold and bought at 1,430 naira per dollar on Thursday—the same level as the previous day.
The shift in the official market comes against a backdrop of continued gains in Nigeria’s foreign reserves. Reserves rose to 51.71 billion US dollars as of July 8, 2026. The naira had also weakened against the dollar in the official market on Wednesday, extending a recent depreciation trend before Thursday’s small rebound.
Currency move and reserves
- On Wednesday, the naira depreciated at the official foreign-exchange market, moving to 1,379.07 per dollar.
- On Thursday, the naira strengthened slightly at the official market to 1,378.43 per dollar, a day-to-day gain of 0.64 naira.
- In the black market, the naira stayed flat at 1,430 per dollar on Thursday, unchanged from the previous day.
- During the same period, foreign reserves continued rising, reaching 51.71 billion US dollars on July 8, 2026.
