Naira gains against dollar at official market, hits N1,332.94 as reserves rise to $53.5bn
Naira appreciated to N1,332.94 per dollar at the official market on Monday, August 31, 2026, up from N1,337.29 traded the previous Friday—a gain of N4.35. The black market rate held steady at N1,400 per dollar, unchanged from the weekend. Foreign reserves rose to $53.51 billion as of August 28, according to CBN data.
This strengthening lowers the cost of imports, helps ease inflationary pressures, and reflects improved external buffers, signaling greater stability in the foreign exchange market. Businesses that rely on imported goods, manufacturers, and travelers stand to benefit from the cheaper official rate, while the unchanged parallel market rate shows a persistent premium.
Importers may want to time purchases to take advantage of the official window, and travelers heading abroad can get more dollars for their naira at banks. Will you adjust your import budget or travel plans based on this official rate, or wait to see if the black market follows?