Naira Achieves First Weekly Gain Against Dollar on October 14, 2026

On October 14, 2026, the Nigerian naira experienced its initial upward movement against the United States dollar within the official foreign exchange segment this week. Figures released by the Central Bank of Nigeria (CBN) indicate that the national currency saw a slight increase in value on Wednesday. It traded at N1,332.59 to a dollar, a modest improvement from the N1,332.97 recorded on Tuesday. This signifies a marginal appreciation of N0.38 for the naira against the greenback in a single day, marking its first positive shift for the week following declines observed on both Monday and Tuesday.

Conversely, the unofficial parallel market maintained stability, with the naira holding steady at N1,375 per dollar on Wednesday, matching the rate from the preceding day. This varied performance across Nigeria's official and black markets coincided with the CBN's report that the nation's external reserves were valued at $55.10 billion. It is worth noting that the naira had previously lost ground against the dollar earlier in the week, specifically on Monday and Tuesday.