The naira on Wednesday sustained its upward trend against the United States dollar across both official and parallel foreign exchange markets, reflecting continued currency stability.
Latest data released by the Central Bank of Nigeria, CBN, showed that the local currency appreciated to N1,348.95 per dollar, improving from N1,351.02 recorded previously. This represents a day-on-day gain of N2.07.
Available figures further indicated that within the last three trading sessions, the naira has strengthened by N5.51 at the official foreign exchange window, signaling sustained positive momentum.
At the parallel market, the currency also recorded marginal appreciation, trading at N1,445 per dollar on Wednesday compared with N1,450 the previous day.
Market watchers linked the development partly to the apex bank’s recent directive allowing the sale of up to $150,000 weekly to licensed Bureau De Change operators, a move aimed at boosting liquidity in the retail segment of the forex market.
Meanwhile, Nigeria’s external reserves continued their upward movement, rising to $47.38 billion as of February 9, 2026, from $47.03 billion recorded on February 6, suggesting improving foreign exchange buffers and stronger market confidence.
