The naira recorded significant appreciation against the dollar at the official foreign exchange market, beginning the week on a positive note.
Central Bank of Nigeria data showed that the naira strengthened to N1,360.14 per dollar on Monday, up from N1,365.69 traded on Friday last week.
This means that at the official market, the naira firmed up by N5.55 against the dollar.
Meanwhile, at the black market, the naira remained flat at N1,430 per dollar on Monday, the same rate recorded at the close of the week last week.
The apex bank’s data as of August 7, 2026, showed that the country’s foreign reserves stood at $52.06 billion.
Recall that on Friday last week, the naira dropped against the dollar across foreign exchange markets to end the week on a negative note.