The naira extended its appreciation against the United States dollar on Friday, ending the week on a positive note at the official foreign exchange market, even as the country’s foreign reserves declined for the second consecutive day.
Central Bank of Nigeria, CBN, data showed that the naira strengthened slightly to N1,346.26 against the dollar on Friday, up from N1,346.91 recorded on Thursday.
This means that, on a day-to-day basis, the naira appreciated by N0.65 against the dollar at the official foreign exchange market.
Meanwhile, at the parallel market, the naira remained flat at N1,390 per dollar on Friday, the same rate recorded on Thursday.
DAILY POST reports that the naira has gained significantly against the dollar over the past five trading days, recovering from losses recorded last week.
This comes as the country’s foreign reserves declined for the second consecutive day to $55.24 billion, according to CBN data as of October 29, 2026.
