The naira strengthened to N1,343.00/$ in the official NAFEM Window on August 26, 2026, compared with N1,349.99/$ on August 24 representing an appreciation of N6.99, or 0.52%, according to data from the Central Bank of Nigeria (CBN).
The naira, however, lost ground in the parallel market on August 27 trading at N1,405/$, compared with N1,398 the previous day, representing a depreciation of N7, or 0.50%.
The British pound rose to N1,880, from N1,875, while the euro increased to N1,565, from N1,555 and the Canadian dollar remained unchanged at N1,055.
The difference between the official and parallel-market dollar rates stood at approximately N62, highlighting the continuing gap between the two segments of Nigeria’s foreign exchange market.
External Reserves Climb to $53.1 billion
Nigeria’s gross external reserves also continued their upward movement, reaching $53.112 billion as of August 24, according to CBN figures, an increase of $280 million, or approximately 0.53%, from $52.832 billion recorded on August 21.
The rise extends a recent trend of gradual improvement in the country’s reserve position, providing additional foreign-exchange liquidity and a degree of support for the naira.
