The Naira Dollar Exchange Rate recorded further improvement on Friday as the Nigerian currency appreciated against the US dollar across both official and parallel foreign exchange markets.

Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened to ₦1,362.09 per dollar at the official market, compared with ₦1,367.76 per dollar recorded the previous day.

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The movement represents a daily appreciation of ₦5.67 against the dollar, marking another positive development for the local currency after recent fluctuations in Nigeria’s foreign exchange market.

At the parallel market, commonly known as the black market, the naira also gained ground, appreciating by ₦10 to trade at ₦1,410 per dollar on Friday, according to a Bureau de Change operator in Wuse Zone 4, Abuja.

Further analysis showed that the naira recorded weekly gains across both markets. The currency appreciated by ₦18.19 at the official market and ₦15 at the parallel market compared with rates recorded the previous week.

The latest improvement comes amid stronger external reserves, with Nigeria’s foreign reserves reported at $52.02 billion as of July 23, 2026.

Analysts have continued to monitor developments in the foreign exchange market as the Central Bank of Nigeria implements measures aimed at improving liquidity, strengthening transparency and stabilising the naira.

The recent appreciation offers some relief after months of pressure on the currency, although businesses and consumers remain focused on whether the trend can be sustained over the longer term.

Exchange rate movements remain closely linked to factors including foreign exchange supply, oil revenue, investor confidence, inflation trends and broader economic policies.

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While the naira’s latest gains signal improved market conditions, stakeholders say continued reforms and stronger economic fundamentals will be essential to maintaining stability.