On Tuesday, the Naira saw its initial increase in value against the dollar within the official exchange market following a five-day decline. Official figures from the Central Bank of Nigeria indicate the currency climbed to N1,379.68 per dollar, rising from the N1,383.63 rate observed on Monday.
This shift represents a daily improvement of N3.95 for the Nigerian currency. According to reports, this marks the first time the Naira has strengthened since June 22nd, 2026, when it was valued at N1,369.11 per dollar. Conversely, the unofficial black market rate remained stagnant, holding steady at N1,395 per dollar, matching Monday’s figures.
The varying performance across market channels occurs as Nigeria’s external reserves maintain a rising trajectory, reaching $51.43 billion as of June 29th, 2026. This recovery follows a streak of five consecutive days of devaluation for the Naira in the official sector.
