Naira Gains to N1,346.26 at Official Market, Weakens to N1,390 at Black Market

The naira appreciated at the official foreign exchange market on Friday but weakened at the parallel market, CBN data shows. It closed at N1,346.26 per dollar officially, compared with N1,361.84 on October 23, 2026.

The official rate movement means the currency gained N15.58 against the dollar week-on-week. At the black market, the naira fell by N15 week-on-week to close at N1,390 per dollar on Friday.

Official market

CBN data put the official rate at N1,346.26 per dollar on Friday. That was stronger than the N1,361.84 recorded on October 23, 2026. The gain came to N15.58 on a week-on-week basis.

Parallel market

The parallel market moved the other way. The naira closed at N1,390 per dollar on Friday, N15 weaker week-on-week. The official and parallel market rates therefore moved in opposite directions.

Reserves

The mixed sentiment came as the country's foreign reserves fell by $20 million over two days. That drop came despite a $60 million weekly gain in reserves.

The two markets ended the week apart, with the official rate at N1,346.26 per dollar and the parallel market rate at N1,390 per dollar. The official market gained week-on-week while the black market weakened.