On Friday, the Nigerian naira concluded the week with gains against the US dollar in both official and unofficial trading venues. According to the Central Bank of Nigeria, the official exchange rate moved to N1,362.09 per dollar, reflecting an increase from the previous day’s figure of N1,367.76. This represents a single-day improvement of N5.67.
Reports from the Wuse Zone 4 area of Abuja indicate a similar trend in the black market. Currency traders there noted that the naira rose by N10, closing at N1,410 per dollar compared to the earlier rate of N1,420. When looking at the broader weekly performance, the currency showed gains of N18.19 in official channels and N15 within the informal market. These positive movements occur as Nigeria reports a foreign reserve balance of $52.02 billion as of July 23, 2026.
