Naira gains against dollar officially, weakens at black market

The Naira appreciated significantly against the dollar on a week-on-week basis at the close of trading on Friday.

Central Bank of Nigeria, CBN, data showed that the Naira exchanged at N1,346.26 per dollar on Friday, strengthening from N1,361.84 recorded on October 23, 2026.

This means that the Nigerian currency appreciated by N15.58 against the dollar on a week-on-week basis.

Meanwhile, at the parallel market, the Naira weakened by N15 against the dollar on a week-on-week basis, closing at N1,390 per dollar on Friday.

The mixed sentiments across the foreign exchange markets come amid a $20 million decline in the country’s foreign reserves over two days, despite a $60 million weekly gain.

DAILY POST reports that the Naira appreciated at the official foreign exchange market on Friday but weakened at the black market.