Market News
Nigerian currency continues appreciation - DAILY POST
The naira extended its appreciation against the dollar at the official foreign exchange market on Tuesday.
Data from the Central Bank of Nigeria, CBN, showed that the naira further strengthened to N1,361.05 per dollar on Tuesday from N1,366.79 recorded on Monday.
This means that, on a day-to-day basis, the naira appreciated by N5.74 at the official foreign exchange market.
Meanwhile, at the black market, the naira remained unchanged at N1,395 per dollar on Tuesday, the same exchange rate recorded on Monday.
The development comes as the country’s foreign reserves rose to $49.80 billion as of June 1, 2026.
Recall that on Monday, the naira also gained against the dollar.
