Naira Gains More Strength Against Dollar as CBN Keeps Interest Rate Steady

The value of the Nigerian Naira has continued to rise against the United States Dollar, following the Central Bank of Nigeria's decision to maintain the Monetary Policy Rate at 26.50 percent. According to data from the CBN, the Naira appreciated to N1,375.31 per dollar on Tuesday, up from N1,380.11 on Monday, representing a gain of N4.80. This development occurred at the official foreign exchange market. However, the black market exchange rate remained unchanged at N1,425 per dollar. The CBN's Monetary Policy Committee made the decision to retain the interest rate during its 306th meeting. It is worth noting that Nigeria's foreign reserves have increased to $52.02 billion as of July 20, 2026. The consistent appreciation of the Naira is a positive development for the Nigerian economy, and it will be interesting to see how this trend continues in the coming days.