Naira strengthens to N1,367.76 at official market, weakens to N1,420 at parallel window
By Aboki Forex —
The Nigerian naira extended its appreciation against the US dollar at the official foreign exchange market on Thursday. Data from the Central Bank of Nigeria (CBN) showed the naira strengthened to N1,367.76 per dollar, up from N1,369.64 per dollar recorded on Wednesday. This represents a day-to-day gain of N1.87 for the naira at the official window.
Parallel market sees depreciation
While the official market recorded gains, the parallel (black) market moved in the opposite direction. The naira depreciated by N5 to N1,420 per dollar on Thursday, down from N1,415 per dollar traded on Wednesday. The divergence between the two markets widened, with the gap now standing at about N52 per dollar.
External reserves continue to rise
The naira’s gradual appreciation at the official window comes amid a continued rise in Nigeria’s external reserves. According to CBN data, reserves increased to $52.04 billion as of July 22, 2026. Higher reserves give the central bank more firepower to defend the naira and meet import demand.
What this means for businesses and consumers
The steady strengthening of the naira at the official market suggests improved dollar liquidity, partly supported by rising reserves. For Nigerian businesses that rely on official FX channels, this translates to lower import costs and more predictable pricing. However, the divergence with the parallel market shows that demand pressure remains. A narrower gap between both rates would signal deeper stability. For now, the trend offers cautious optimism for the naira’s outlook.