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FX Market
The naira rose against the US dollar in the Central Bank of Nigeria (CBN) foreign exchange
The British pound (GBPUSD) fell to 1.33 against the US dollar, the lowest since December 2025, as the UK economy
The naira gained on Friday, closing at N1366 per dollar at the official market on Friday from N1371, following the latest round of FX market interventions.
The naira strengthened across both exchange channels on Thursday, appreciating by 0.34% to N1,371.51/$ at the Nigerian foreign exchange market (NFEM) window.
The naira gained sharply at the official window as foreign reserves topped the $50 billion mark for the first time since January 2009, according to updated Central Bank of Nigeria (CBN) data.
The single currency of the European countries (the euro) strengthened against the US dollar on Tuesday as oil prices retreated following U.S. President Donald Trump’s remark that the war in Iran would end soon.
The naira halted its negative trend in the foreign exchange market after data showed the Central Bank of Nigeria (CBN) pumped dollars to influence the direction of the spot rate at the official window.