Market News
Nigerian currency records significant appreciation - DAILY POST
The naira on Monday appreciated significantly against the United States dollar at the official foreign exchange market, beginning 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 on Monday to N1,366.79 per dollar, up from N1,373.26 traded on Friday last week.
This means that at the official foreign exchange market, the naira gained N6.47 against the dollar.
Meanwhile, at the black market, a Bureau de Change operator, Abubakar Bengazzi, told DAILY POST that the naira traded at N1,395 per dollar on Monday, the same rate recorded on Friday.
In comparison, this showed that the exchange rate gap between the black market and the official market stood at N28.21 per dollar.
On May 29, 2026, Nigeria’s foreign reserves stood at $49.58 billion, according to data from the apex bank.
Recall that on Friday, the naira had appreciated to end the week on a bullish note.
