The naira appreciated against the United States dollar at the official foreign exchange market on Tuesday after starting the month on a negative note.
Central Bank of Nigeria, CBN, data showed that the naira strengthened to N1,346.93 per dollar on Tuesday from N1,347.94 recorded on Monday.
This means that the naira appreciated by N1.01 against the dollar on a day-to-day basis.
Meanwhile, at the parallel market, the naira remained flat at N1,390 per dollar on Tuesday, the same rate recorded the previous day.
This comes as the country’s external reserves dropped to $55.16 billion on November 2, 2026, from $55.22 billion recorded on October 30, according to data from the apex bank.
Recall that the naira had depreciated against the dollar at the official foreign exchange market to begin November 2026 on a negative note.
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