Naira rebounds at official FX market, strengthens to N1,352.87 per dollar

The naira appreciated against the United States dollar at the official foreign exchange market on Tuesday, its first gain since last week. Data from the Central Bank of Nigeria showed the currency closed at N1,352.87 per dollar, compared with N1,367.61 recorded on Monday.

This means the naira strengthened by N14.74 against the dollar on a day-to-day basis.

Parallel market stays flat

At the parallel market, the naira remained flat at N1,385 per dollar on Tuesday, the same rate recorded on Monday.

External reserves rise to $55.26 billion

The development came as the country's external reserves rose further to $55.26 billion as of October 26, 2026.

Rebound follows recent losses

The naira's rebound at the official market followed losses of N23 against the dollar since last week.

For Nigerian businesses and consumers, the official market gain offers some relief, though the parallel market rate stayed unchanged at N1,385 per dollar.