Naira Gains N5.74 at Official Market as Reserves Hit $49.80 Billion

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

Data from the Central Bank of Nigeria, CBN, showed that the naira strengthened to N1,361.05 per dollar on Tuesday from N1,366.79 recorded on Monday. This represents a day-to-day gain of N5.74 at the official market.

At the black market, the naira remained unchanged at N1,395 per dollar on Tuesday, the same rate recorded on Monday.

The development comes as the country’s foreign reserves rose to $49.80 billion as of June 1, 2026. On Monday, the naira also gained against the dollar.

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