The naira recorded a strong appreciation against the United States dollar on Tuesday at the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN).
CBN figures showed that the naira strengthened to ₦1,419.07 per dollar on Tuesday, improving from ₦1,429.31 recorded on Monday. This represents a day‑on‑day gain of ₦10.24 against the dollar.
A report released on Tuesday noted that the naira’s latest appreciation marks its highest single‑day gain since the commencement of official currency trading in 2026.
At the parallel market, however, the naira remained stable. It traded at ₦1,480 per dollar on Tuesday, unchanged from the rate recorded on Monday, according to several Bureau De Change operators in Wuse Zone 4, Abuja.
The recent upward movement of the naira coincides with an increase in Nigeria’s external reserves, which rose to $45.61 billion as of January 5, 2026, up from $45.57 billion recorded on January 2.
