The Naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a good note.
The Central Bank of Nigeria’s data showed that the Naira strengthened on Monday to N1,368.27 is up from N1,370.19 traded on Friday last week.
This means that the Nigerian currency firmed up by N1.9 against the dollar on Monday compared to the close of trade Friday.
Meanwhile, at the black market, the Naira declined, dropping by N5 to N1410 per dollar on Monday from N1405.
The development comes as the country’s foreign reserves surged further to $51.52 billion as of July 3rd, 2026.
Recall that last week the Naira fell against the dollar across the foreign exchange market.