The naira closed the week stronger against the US dollar, gaining at both official and parallel markets as Nigeria’s foreign reserves rose to $46.18bn
Naira Posts Strong Weekly Gains Against Dollar at Official, Black Markets
The naira recorded a strong appreciation against the United States dollar across both the official and parallel foreign exchange markets, ending the week on an impressive upward note.
Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened further at the official market on Friday, closing at ₦1,386.55 per dollar, compared to ₦1,396.99 recorded on Thursday.
This represents a day-on-day gain of ₦10.44, underscoring sustained momentum in the official foreign exchange window.
At the parallel (black) market, the naira also appreciated, gaining ₦10 to close at ₦1,470 per dollar on Friday, up from ₦1,480 the previous day.
Further analysis shows that the local currency posted week-on-week gains across both markets 35.08 gain at the official market and ₦20 gain at the parallel market
The gains mark one of the naira’s strongest weekly performances in recent weeks.
The naira’s uptrend coincides with a continued rise in Nigeria’s foreign exchange reserves, which increased to $46.18 billion as of January 29, 2026, up from $46.01 billion recorded at the close of trading the previous week.
Analysts say the combination of improved FX inflows, tighter monetary controls, and growing external reserves has helped stabilise sentiment in the currency market.
