Nigeria’s currency, the naira, recorded a sharp appreciation against the US dollar at the parallel market on Thursday, strengthening significantly compared to the previous day’s exchange rate.
A Bureau De Change operator, Abubakar Hassan, told Daily Post on Friday that the naira traded at N1,317 per dollar on Thursday, up from N1,350 on Wednesday — representing a N33 day-to-day gain at the black market.
Hassan described the rally as the currency’s strongest performance at the parallel market in several months, attributing it to reduced demand for foreign exchange and recent interventions by the Central Bank of Nigeria.
He noted that lower patronage in the informal market, alongside regulatory measures by the apex bank, appears to be easing pressure on the naira.
However, the trend differed at the official foreign exchange window, where the naira weakened for the second consecutive session. It depreciated by N3.25 on Thursday to close at N1,341.35 per dollar, compared to N1,338.12 on Wednesday. Over two days, the currency has lost N5.38 at the official market.
Meanwhile, Nigeria’s external reserves stood at $48.50 billion as of February 17, 2026, according to figures from the apex bank.
The mixed performance follows Wednesday’s trading session, when the naira recorded contrasting movements across both the official and parallel markets, highlighting continued volatility in the country’s foreign exchange environment.