{"id":484,"date":"2026-05-18T19:55:51","date_gmt":"2026-05-18T16:55:51","guid":{"rendered":"https:\/\/zalebs.com\/news\/naira-gains-ground-as-dollar-rate-drops-in-nigerias-official-fx-market\/"},"modified":"2026-05-18T19:55:51","modified_gmt":"2026-05-18T16:55:51","slug":"naira-gains-ground-as-dollar-rate-drops-in-nigerias-official-fx-market","status":"publish","type":"post","link":"https:\/\/zalebs.com\/news\/naira-gains-ground-as-dollar-rate-drops-in-nigerias-official-fx-market\/","title":{"rendered":"Naira Gains Ground as Dollar Rate Drops in Nigeria\u2019s Official FX Market"},"content":{"rendered":"<p>The naira strengthened meaningfully versus the US dollar on Wednesday in Nigeria\u2019s official foreign-exchange market, according to central bank data. The currency rose to 1,357.34 naira per dollar from 1,366.56 traded on Tuesday, representing a day-on-day improvement of 9.22 naira against the dollar.<\/p>\n<p>In contrast, the naira was largely unchanged in the parallel market on Wednesday, holding at 1,395 naira per dollar\u2014an exchange rate that also prevailed on Tuesday. The mixed picture comes as Nigeria\u2019s external reserves continue to decline, reaching $48.33 billion as of May 5, 2026.<\/p>\n<p>The latest official-market gain follows a shift late Tuesday, when the naira weakened against the dollar after the week began with a positive move in the official foreign exchange market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The naira strengthened meaningfully versus the US dollar on Wednesday in Nigeria\u2019s official foreign-exchange market, according to central bank data. The currency rose to 1,357.34 naira per dollar from 1,366.56 traded on Tuesday, representing a day-on-day improvement of 9.22 naira against the dollar. In contrast, the naira was largely unchanged in the parallel market on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_title":"Naira Strengthens in Nigeria as Dollar Rate Falls","_yoast_wpseo_metadesc":"Naira strengthens in Nigeria\u2019s official FX market as the dollar rate slips, while the parallel market stays flat\u2014tracking central ","mma_seo_breadcrumb_text":"","mma_seo_breadcrumb_url":"","mma_seo_breadcrumb_hide_ui":"","mma_seo_breadcrumb_labels":[],"footnotes":""},"categories":[5],"tags":[],"class_list":["post-484","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Naira Strengthens in Nigeria as Dollar Rate Falls<\/title>\n<meta name=\"description\" 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