On Tuesday, the Naira made a significant recovery against the dollar within the official foreign exchange market.
According to data from the Central Bank of Nigeria, the Naira strengthened to N1,372.91 per dollar on Tuesday, recovering from its value of N1,390.3622 on Monday.
This signifies that the Naira achieved a noteworthy daily gain of N17.45 against the dollar.
The naira’s positive movement on Tuesday represented one of the most significant appreciations since October 2, 2024, when the central bank implemented the Electronic Foreign Exchange Matching System.
Similarly, on the black market, the naira strengthened to N1460 per dollar on Tuesday, rising from approximately N1470 traded the day before.
The increase observed in both the official and parallel foreign exchange markets coincides with the country’s surge to $46.59 billion as of February 2, 2026, up from $46.28 billion at the end of January.
Keep in mind that on Monday, the naira fell against the dollar in the official foreign exchange market.
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