Naira Gains N6.47 Against Dollar at Official Market, Opens June 2026 on Strong Footing

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The naira appreciated sharply against the United States dollar at the official foreign exchange market on Monday, kicking off the week and the month of June 2026 on a positive note.

Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened to N1,366.79 per dollar on Monday, up from N1,373.26 traded on Friday last week. This represents a gain of N6.47 for the local currency at the official market.

At the black market, the naira held steady. Abubakar Bengazzi, a Bureau de Change operator, told DAILY POST that the naira traded at N1,395 per dollar on Monday, the same rate recorded on Friday.

The exchange rate gap between the black market and the official market stood at N28.21 per dollar.

Nigeria’s foreign reserves stood at $49.58 billion as of May 29, 2026, according to data from the apex bank.

Recall that on Friday, the naira had appreciated to end the week on a bullish note.

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