By Jelili Gbadamosi
The naira has recorded a weekly gain of N11.12 against the US dollar, closing the week on a stronger note at the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) showed that the dollar traded at N1,346.49 on Friday, compared with N1,347.63 on Thursday, representing a marginal N1.14 appreciation by the naira in one day.
The latest movement extended the currency’s positive performance recorded during the week, despite a setback on Wednesday.
At the parallel market, the exchange rate remained unchanged, with the dollar trading at N1,405 on Friday, the same rate recorded the previous day.
The naira’s latest performance comes amid Nigeria’s foreign exchange reserves, which stood at $52.66 billion as of August 19, 2026.
The local currency has continued to show relative resilience against the dollar at the official market, recording gains on several trading days during the week under review.
With the latest appreciation, the naira closed the week with a stronger position against the US currency, while the parallel-market rate remained stable at N1,405 per dollar.
