Naira Rises to N1,327.78/$ at Official Market, N1,389 at Black Market

The naira extended its appreciation against the dollar across the foreign exchange market on Tuesday.

Central Bank of Nigeria data showed the naira strengthened to N1,327.78 against the dollar on Tuesday, from N1,329.80 exchanged on Monday. On a day-to-day basis, the naira appreciated by N2.02 against the dollar.

Black market rate

At the black market, the naira firmed up by N1 to N1,389 per dollar on Tuesday, from N1,390 traded the previous day.

Reserves and interest rate

The country’s external reserves stood at approximately $55 billion on Monday, September 21, 2026, according to apex bank data.

The development came as the Monetary Policy Committee, the country’s apex monetary policy decision-making body, cut the interest rate to 23 per cent.

What it means

The official market rate at N1,327.78 and the black market rate at N1,389 show the naira remains stronger than it was on Monday in both segments. Nigerian businesses and consumers will watch whether the gains hold, especially as the gap between the two rates remains.