Naira Appreciates to N1,329.80/$ at Official Market, Firms to N1,390 at Black Market

The Naira appreciated against the dollar across foreign exchange markets on Monday, starting the week on a positive note. Data from the Central Bank of Nigeria showed the Naira gained to N1,329.80 per dollar on Monday from N1,331.20 on Friday last week.

That represented a strengthening of N1.40 against the dollar compared with Friday.

Black market rate

At the black market, the Naira also firmed up by N2 to N1,390 per dollar on Monday from N1,392 traded at the close of last week.

The parallel market rate remains wider than the official rate even as the local currency posted gains in both segments.

External reserves

The development comes as the country’s external reserves stood at $54.70 billion as of September 18, 2026.

Last week, the Naira recorded a slight appreciation at the official foreign exchange market to end the week.

What it means

For Nigerian businesses and consumers, Monday’s movement was marginal but directional. The gap between the official rate of N1,329.80 and the black market rate of N1,390 was about N60.20 per dollar, a spread that still matters for importers, travellers and anyone sourcing foreign exchange outside the banking system.