The Naira traded largely flat on Tuesday trading at ₦1,385/$1 in the official Nigerian Autonomous Foreign Exchange Market (NAFEM) representing a marginal depreciation of ₦1 from ₦1,384/$1 recorded on June 26, equivalent to a 0.07% decline.
According to the latest exchange rate data from the CBN, the Naira exchanged at ₦1,390/$1 in the parallel market, unchanged from the previous trading session.
The steady performance of the parallel market, alongside only a slight movement in the official exchange window, has kept the gap between both markets relatively narrow at about ₦5/$1, suggesting limited arbitrage pressure.
Meanwhile, the Central Bank of Nigeria’s latest data showed that the country’s external reserves rose to $51.293 billion as of June 26, 2026, up from $51.248 billion on June 25, reflecting an increase of approximately $45 million.
The rise in external reserves is expected to strengthen the country’s foreign exchange buffers and could support the CBN’s ongoing efforts to improve market liquidity and maintain exchange rate stability. .
