The naira recorded another gain against the dollar at the official foreign exchange market on Thursday, continuing its recent upward trend.
Figures released by the Central Bank of Nigeria showed that the local currency strengthened to N1,355.85/$1, compared to N1,357.34/$1 traded on Wednesday.
This represents a day-to-day appreciation of N1.5 at the official market.
The naira also posted gains at the parallel market, appreciating by N3 to close at N1,393/$1, up from N1,395/$1 recorded the previous day.
Despite the improved exchange rate performance, Nigeria’s external reserves continued to decline slightly.
According to CBN data, reserves dropped to $48.32 billion on May 6, 2026, from $48.33 billion recorded a day earlier.
The latest performance follows Wednesday’s rally, when the naira strengthened significantly at the official market while remaining unchanged at the black market.
