The naira recorded a marginal depreciation against the US dollar in the official market on Wednesday, 25 February 2026, closing at N1,359.00/$ in the NAFEM window, down 0.40% or N5.50 from the previous day’s rate of N1,353.50/$.
In the IMTO segment, which reflects remittance and money transfer operator rates, the dollar strengthened further to N1,391.00/$, representing a 0.54% increase from N1,383.51 the day before.
The pound sterling IMTO rate moved to N1,883.00 per pound, up 1.00% or N18.87 from N1,864.13, while the euro settled at N1,624.00, a modest 0.14% rise.
Nigeria’s external reserves posted a small gain, climbing 0.55% to $48.900 billion as of 20 February 2026, up from $48.770 billion the previous week, data from the Central Bank of Nigeria showed.
Market analysts continue to monitor the impact of ongoing Central Bank interventions and remittance inflows on the naira’s stability amid global oil price movements and domestic economic pressures.
CBN Monetary Policy Rate Cut Impact
The CBN on Tuesday cut the Monetary Policy rate by 0.50bps to 26.5%. CBN Governor Olayemi Cardoso said members of the Monetary Policy Committee (MPC) opted for a measured reduction in interest rates following nearly a year of cooling inflation, stronger foreign exchange buffers and improving macroeconomic conditions, which collectively created room for cautious policy easing.
