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Naira gains ₦3.51 against the US dollar within 48 hours at the official foreign exchange market, according to CBN data.
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Official exchange rate improves to ₦1,419.66/$, while the black market rate remains unchanged at ₦1,490/$.
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Nigeria’s foreign reserves rise to $45.74bn, supporting the naira’s recent appreciation against the dollar.
The naira has recorded back-to-back appreciations against the United States dollar at the official foreign exchange market.
READ ALSO: Naira Posts Week’s Worst Slide as External Reserves Fall
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Data released by the Central Bank of Nigeria, CBN, showed that the local currency strengthened on Tuesday to ₦1,419.66 per dollar, improving from ₦1,423.17 per dollar recorded last Friday.
This development indicates that the naira gained ₦3.51 against the US dollar within the last 48 hours at the official market.
Meanwhile, the naira remained stable at the parallel market, exchanging at ₦1,490 per dollar, the same rate recorded on Monday.
The currency’s performance comes amid a rise in Nigeria’s external reserves, which increased to $45.74 billion as of January 12, 2026, up from $45.67 billion recorded at the end of last week, according to figures from the apex bank.
