The U.S. dollar climbed to a one-week high against major currencies on Monday as renewed tensions between the United States and Iran dampened hopes for a Middle East peace deal. Reuters reported that this follows developments over the weekend in which the United States seized an Iranian cargo ship, escalating geopolitical uncertainty. The situation has driven investors toward safe-haven assets, influencing global...

The Nigerian currency showed consolidation against the American dollar after the recent bullish run for the Naira. after the pair peaked at N 1,389/$ earlier this month. The pair is consolidating, but the bias is still downward (appreciating). The latest price action showed the Naira saw a slight increase of roughly 0.3 per cent at the official market. The exchange...

Nigeria’s foreign exchange reserves have declined to $48.6 billion as of April 16, 2026, marking a cumulative drop of about $1.38 billion over a five-week period. This is according to data from the Central Bank of Nigeria (CBN). Data published on the apex bank’s website shows that reserves stood at $50.03 billion as of March 11, 2026, before declining to...

The Naira extended its appreciation streak on Friday, closing at N1,342.5/$, an improvement from N1,355.25/$ recorded at the end of the previous week. The gains were supported by improving global sentiment and a weaker U.S. dollar, according to data published on the Central Bank of Nigeria’s (CBN) website. The performance reflects a steady recovery in the foreign exchange market, driven...

The naira extended its recent rally on Wednesday, closing at N1,341.99/$ at the official market—its strongest level since February 18, 2026, when it traded at N1,340/$. This is according to data from the Central Bank of Nigeria (CBN). The latest performance reflects a steady appreciation from N1,358/$ on Monday and N1,348/$ on Tuesday, signalling renewed short-term confidence in the local...

The recent volatility of the exchange rate at the black market has been linked to fiscal leakages, speculation and arbitrage activities, which far outpace the optimism at the official market. This is according to insights from forex traders and Bureau De Change (BDC) operators who spoke to Nairametrics. They said the over-appreciation of the naira at the official market without corresponding fundamentals has...

The Naira has shown more strength than the Pound. The Central Bank of Nigeria's (CBN) increased foreign exchange liquidity, increased crude oil earnings, policy changes, or a decrease in dollar demand pressure are all likely contributing factors to the Naira's "renewed strength" in relation to the British currency. Sterling is also facing energy-induced inflation with the Bank of England (BoE)...

The naira appreciated to N1,348/$ at the official foreign exchange market on Tuesday, strengthening alongside a broader weakness in the U.S. dollar, which has fallen to a six-week low. This is according to data published on the website of the Central Bank of Nigeria. The development reflects improving market sentiment driven by renewed optimism over possible diplomatic talks between the...

The naira appreciated to N1,355.25/$ at the official foreign exchange market on Friday, marking its strongest level in recent sessions. 

Most recent market activity has revealed that, despite rising demand for assets denominated in naira and weak UK economic performance, the Naira was stable versus the British pound in the Nigerian foreign exchange market.

The Naira appreciated to N1,365/$ on Thursday, gaining against the U.S. dollar amid a broader global decline in the greenback.  

Some African currencies gained slightly against the U.S. dollar in March 2026, giving a sense of relief across parts of the continent’s foreign exchange markets.

The Naira weakened to N1,389 per dollar as the country’s external reserves declined by about $850 million within three weeks.  

Crude oil prices have skyrocketed due to the ongoing US-Iran conflict, with Bonny Light hitting $120 per barrel this week.

The Nigerian Naira currency showed price stability and upward movements against the major European currency in the past week.

The Nigerian currency posted modest gains against the British pound, rising to N1,836/£ in the official market as the pound declined against the US dollar in the global foreign exchange market.

The Naira closed at N1,387/$ as of March 31, 2026, erasing some of the gains recorded in February and demonstrating ongoing volatility in the foreign exchange market. This is according to data tracked on the Central Bank of Nigeria’s (CBN) website. After a period of gradual appreciation earlier in the year, the currency has struggled to maintain momentum amid global...

The naira weakened slightly to N1,387/$ on Tuesday, compared to N1,386.75/$ recorded in the previous session. This is according to data from the Central Bank of Nigeria (CBN). The marginal depreciation comes amid a decline in Nigeria’s external reserves, which dropped to $49.29 billion by the end of March 2026. The development reflects ongoing pressure in the foreign exchange market despite relatively stable global currency movements....

The Nigerian currency is navigating a complex landscape marked by high geopolitical uncertainty in the Middle East and a phase of technical consolidation.

Nigeria’s foreign reserves declined by about $547 million within a 15-day period in March 2026, reflecting renewed pressure on the country’s external buffers.  

The local currency is currently showing signs of cautious stabilisation against the British pound. The naira settled at N1,837/£1 at the official market on Wednesday. Price action suggests that the psychological break below N1,900/£ has boosted naira bulls’ morale, as the naira has held most of its gains against the British pound this year. CBN reforms have begun to take...

The Central Bank of Nigeria’s latest reforms on diaspora remittances are set to dismantle long-standing foreign exchange market monopolies while boosting inflows and improving transparency. 

The naira depreciated to N1,391/$ on Wednesday as the U.S. dollar strengthened against major global currencies.

The Central Bank of Nigeria (CBN) has approved the full repatriation of export proceeds by International Oil Companies (IOCs), allowing them to access 100% of their foreign exchange earnings through authorised dealer banks. The directive was contained in a circular issued by the apex bank’s Trade and Exchange Department and published on Wednesday, signalling a further shift towards foreign exchange market liberalisation. Signed...

The Naira weakened slightly to N1,383.5/$ on Tuesday, compared to N1,383/$ recorded on Monday, amid declining external reserves and cautious sentiment in global currency markets.  

The Naira is navigating a challenging environment characterized by both new external risks due to geopolitical tensions in the Middle East and a notable improvement in macroeconomic stability. 

The US dollar retreated from multi-month highs this week as rising energy prices disrupted global interest rate expectations.  

The naira extended its gains against the euro in Nigeria's foreign exchange market on Wednesday, March 18, 2026.

India’s rupee has fallen to a record low against the US dollar, prompting the Reserve Bank of India (RBI) to ramp up intervention to nearly $100 billion in forward dollar positions. This development was reported by Money Control on Thursday. The move comes amid renewed pressure on emerging markets from a resurgent dollar, even as India’s foreign exchange reserves remain near record highs. Meanwhile, Nigeria’s naira depreciated...

The Nigerian naira held around the N1850/ resistance level against the British pound at mid-week trading session