Nigerian Naira Touches N1,392 Per U.S. Dollar at CBN Window
The Nigerian naira briefly touched N1,392 per dollar at the Central Bank of Nigeria (CBN) foreign exchange window, reflecting the absence of liquidity pressure in the currency market.
The Naira closed the session on a strong note, extending the previous day’s appreciation with a gain of 5bps against the US dollar at the Nigerian Foreign Exchange Market (NFEM) to settle at ₦1,400.48/$.
The currency rally was driven by sustained inflows from foreign portfolio investors and local market participants, with the Naira trading within an intraday range of ₦1,392.00/$ and ₦1,415.00/$ during the session.
Latest update from the CBN indicated that gross external reserves continued to improve, rising by $27.86 million from the previous day’s balance to $46.07 billion as of 27 January 2026.
The accretion into the foreign reserves has been steadied, supported by higher crude oil production and fluctuating prices.
Global Oil prices hit their highest since late September on Wednesday after a winter storm disrupted U.S. crude output, while a weak U.S. dollar and continued Kazakh outages lent further support.
Brent crude jumped 3.71% or $2.40, hovering around $67.17 per barrel, while U.S. West Texas Intermediate (WTI) climbed 2.38%, to around $62.07.
Similarly, Gold prices climbed above $5,300 per ounce for the first time on Wednesday, driven by economic uncertainty and a weakening U.S. dollar, as investors awaited the Federal Reserve’s policy decision amid increasing concerns over its independence.
Spot gold price climbed 136bps to $5,083.69/oz, while U.S. gold futures fell marginally by 10bps to $5,117.09/oz. “We expect markets to trade mixed to cautious, with safe-haven demand supporting gold amid a weak dollar and uncertain oil price direction”, investment firm AIICO Capital Limited said in its update. NCR Returns to Profitability as Overhead Drops Sharply
