The naira showed signs of recovery in Nigeria's official foreign exchange market, appreciating by N10.74 week-on-week to N1,370.19 per dollar, marking a 0.78% gain from the previous week.This rebound follows steady growth in external reserves, which reached $51.45 billion as of June 30, 2026—a 38.27% increase from $37.21 billion in the same period in 2025.

The Central Bank of Nigeria (CBN) data highlights improved liquidity and investor confidence, with market activity remaining robust despite limited official FX turnover reports.In the parallel market, the naira weakened slightly to N1,400 per dollar.

MPC members attributed the stability to enhanced macroeconomic policies, transparent exchange rate frameworks, and accumulated reserves providing import cover of over 9 months.These developments underscore Nigeria's efforts to strengthen its economic resilience against external shocks.