…as CBN Data Shows Naira’s Strongest Performance Since 2024.
ABUJA, NIGERIA — The iNews Times reports that the Naira appreciated to its strongest level in nearly two years against the United States Dollar at both the official and parallel foreign exchange markets on Tuesday, as fresh data from the Central Bank of Nigeria (CBN) showed continued currency gains.
According to CBN figures, the Naira strengthened to N1,335.96 per dollar at the official market on Tuesday, up from N1,347.78 per dollar recorded on Monday marking its highest level since October 2024.
The latest movement represents a day-on-day gain of N11.82 at the official foreign exchange window.
Parallel Market Also Records Gains
At the parallel (black) market, the Naira also posted significant appreciation, gaining N10 to close at N1,490 per dollar on Tuesday, compared to N1,500 per dollar traded on Monday.
The twin-market rally signals renewed confidence in the foreign exchange market amid sustained policy reforms and improved liquidity conditions.
FX Reserves Climb to $48.37 Billion
The currency appreciation comes as Nigeria’s foreign exchange reserves continued their upward trajectory, rising to $48.37 billion as of February 16, 2026, according to data from the apex bank.
The steady rise in reserves has been widely viewed as a key factor supporting the Naira’s recent stability and rebound in the forex market.
The iNews Times reports that the Naira had already begun a rebound against the dollar on Monday before extending its gains further on Tuesday.
