The naira gained against the dollar in both official and parallel foreign exchange markets on Monday, opening the week on a firmer note.
Central Bank of Nigeria data showed the currency appreciated to N1,329.80 per dollar on Monday from N1,331.20 on the previous Friday, a gain of N1.40.
Parallel Market Also Improves
In the black market the naira strengthened by N2 to N1,390 per dollar on Monday, from N1,392 at the close of last week. The parallel rate remained wider than the official rate even as the local currency advanced in both segments.
Reserves and Recent Context
Nigeria’s external reserves stood at $54.70 billion as of 18 September 2026. Last week the naira had already recorded a slight appreciation at the official foreign exchange market by the end of the week.
What It Means
For businesses and consumers, Monday’s move was modest but positive in direction. The gap between the official rate of N1,329.80 and the parallel rate of N1,390 was about N60.20 per dollar — a spread that continues to matter for importers, travellers and anyone obtaining foreign exchange outside the banking system.
