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Naira appreciates by ₦2.68 at official foreign exchange market
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CBN data shows naira trading at ₦1,418.95 per dollar
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Parallel market rate stable as FX reserves remain above $46bn
The naira recorded a notable appreciation against the United States dollar at the official foreign exchange market on Monday.
According to data released by the Central Bank of Nigeria (CBN), the local currency strengthened to ₦1,418.95 per dollar, compared with ₦1,421.63 recorded at the close of trading on Friday, January 23, 2026.
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This movement represents a gain of ₦2.68 against the dollar within the period under review, reflecting improved sentiment at the official FX window.
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However, the situation at the parallel market remained unchanged, as the naira continued to trade at ₦1,490 per dollar, the same rate recorded at the end of last week.
The currency movement comes amid sustained external buffers, with Nigeria’s foreign exchange reserves standing at $46.01 billion as of last Thursday, according to official figures.