The Naira gained against the Dollar at the official foreign exchange market on Friday to end the week on a good note.
Friday’s uptrend came as the country’s external reserves hit the $46 billion mark.
The Central Bank of Nigeria’s data showed that the Naira appreciated to N 1,421.63 against the dollar on Friday, up from N 1,422.07 traded on Thursday.
This means that the naira strengthened slightly by N0.44 against the dollar on a day-to-day basis.
In the week under review, the Naira recorded three losses and two gains against the dollar at the official market.
However, at the black market, the naira was relatively stable at N1,490 per dollar throughout the week, according to multiple Bureau de Change operators at Wuse Zone 4, Abuja.
The development comes as the country’s foreign reserves rose to $46.01 billion as of 22nd January 2026, up from $45.95 billion recorded on January 19th.
However, the naira depreciated this week by 0.3per cent w/w to N1,423.14/USD as demand pressures outweighed supply.
Cordros Research in a report stated that, “We expect the naira to remain broadly stable in the near term, supported by a favourable external position characterised by a sustained current account surplus and strong foreign exchange reserves. We expect continued investor confidence, alongside elevated naira yields, to underpin steady capital inflows, further anchoring exchange rate stability.”