Naira bounces back with massive gain against US dollar

The naira bounced back with a massive gain against the dollar at the official foreign exchange market on Tuesday.

The Central Bank of Nigeria’s data showed that the Naira appreciated to N1,372.91 per dollar on Tuesday, up from N1,390.3622 on Monday.

This means that the Naira recorded a significant N17.45 day-to-day gain against the dollar.

 Tuesday’s bullish move of the naira is among the highest appreciations since 2nd October, 2024, when the apex bank introduced the Electronic Foreign Exchange Matching System.

Similarly, at the black market, the naira jumped to strengthen to N1460 per dollar on Tuesday, up from around N1470 traded the previous day.

The gain recorded at both official and parallel foreign exchange markets comes as the country’s surged further to $46.59 billion as of February 2, 2026, up from $46.28 billion at the end of January.