The naira appreciated by N7.7 against the United States dollar at the official foreign exchange market in the first trading week of 2026, data from the Central Bank of Nigeria (CBN) have shown.
According to the apex bank’s figures, the naira strengthened by 0.54 per cent between Jan. 2 and Jan. 9, 2026, closing at N1,423.17 to the dollar, compared with N1,430.85 recorded at the beginning of the period.
The data indicated that the local currency experienced fluctuations during the week, recording both gains and losses, before settling at N1,423.17 per dollar at the close of trading on Friday.
However, the naira depreciated at the parallel market, where it lost N10 to exchange at N1,490 to the dollar within the same period.
Analysts attributed the improvement at the official market partly to an increase in the nation’s foreign reserves.
CBN data showed that Nigeria’s external reserves rose by 70 million dollars to 45.64 billion dollars as of Jan. 7, 2026.
Meanwhile, the CBN, in its 2026 Economic Outlook, emphasised the need to sustain orthodox monetary policy and the continued implementation of reforms in the foreign exchange market.
The bank noted that these measures were essential to achieving monetary stability, price stability and a more stable exchange rate in the year ahead.