The Nigerian Naira continued its upward trend against the US Dollar on Wednesday, recording gains in both official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria showed that the Naira appreciated to ₦1,348.95 per dollar, up from ₦1,351.02 the previous day, representing a daily gain of ₦2.07. Over the past three days, the Naira has strengthened by ₦5.51 at the official forex market.
In the black market, the currency reached a high of ₦1,445 per dollar, up from ₦1,450 the previous day. Analysts attribute this improvement in part to a recent CBN directive limiting sales to licensed Bureau De Change operators to $150,000 per week.
The currency’s gains coincide with a continued rise in Nigeria’s foreign reserves, which stood at $47.38 billion as of February 9, 2026, up from $47.03 billion on February 6.
The sustained appreciation signals increased stability in the Naira and reflects the central bank’s ongoing efforts to strengthen the country’s foreign exchange market.
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