The naira strengthened to N1,430.84 per dollar at the official foreign exchange (FX) market on Friday, marking the first trading day of 2026.
Figures from the Nigerian Foreign Exchange Market (NFEM) showed that the currency appreciated by N4.31 or 0.34 per cent, improving from the N1,435.75/$ rate recorded on December 31, 2025.
Data indicated that the naira traded at N1,442.51 to the dollar on Monday before slipping to N1,445.68/$ on Tuesday. It, however, regained strength on Wednesday, closing at N1,435.75 against the dollar.
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Conversely, the naira weakened at the parallel market on Friday, depreciating to N1,495 per dollar, representing a 0.34 per cent decline from N1,490/$ on December 31.
The local currency had begun the week on a positive note, appreciating to N1,485 per dollar on Monday, before falling to N1,490/$ on Tuesday and remaining unchanged on Wednesday.
In his New Year message, President Bola Tinubu said Nigeria’s foreign reserves have helped shield the naira from external pressures and are projected to rise further in 2026.
“Supported by sound monetary policy management, our foreign reserves stood at $45.4 billion as of December 29, 2025, providing a substantial buffer against external shocks for the Naira,” he said.
Tinubu added that “we expect this position to strengthen further in the new year”.