The Nigerian Naira, continued its upward movement on Monday, appreciating to N1,355 per dollar at the official foreign exchange market, improving from N1,363.5/$ recorded at the close of trading on Friday.
Latest figures released by the Central Bank of Nigeria indicate that the naira has sustained a steady recovery in recent sessions, supported by relatively stable market conditions.
The latest appreciation represents the currency’s strongest showing since February 23, 2026, when it closed at N1,353.5/$, highlighting a gradual but consistent rebound in the official market.
Market data show that the naira traded at N1,390.5/$ on Tuesday before strengthening to N1,373.5/$ on Wednesday. The positive trend continued on Thursday at N1,370/$ and further improved to N1,363.5/$ on Friday, before extending gains at the start of the new week.
During Monday’s session, the naira traded within a relatively narrow band, fluctuating between N1,365.35/$ and N1,354/$, suggesting improved intraday stability.
Analysts say global developments also influenced market sentiment, as investors monitored movements in the U.S. dollar and geopolitical tensions involving Iran, particularly their potential impact on global energy markets.
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