Naira gains N11 against dollar week‑on‑week as reserves rise to $52.66bn

Naira gained N11.12 against the US dollar on a week‑on‑week basis, according to Central Bank of Nigeria data released on August 23, 2026. On Friday the official rate stood at N1,346.49 per dollar, up from N1,347.63 on Thursday—a day‑to‑day gain of N1.14. Over the full week the local currency appreciated by N11.12. Meanwhile, the parallel market rate held steady at N1,405 per dollar, unchanged from the previous day. Nigeria’s foreign exchange reserves were $52.66 billion as of August 19, 2026, the apex bank reported.

The appreciation reflects improving foreign‑exchange inflows and tighter demand pressure at the official window, which can lower import costs and ease inflationary pressures. A stronger naira also reduces the cost of servicing external debt and may boost confidence among investors. However, the unchanged black‑market rate suggests that retail users and small businesses still face limited access to cheap foreign currency, keeping the parallel market premium wide.

For importers, the official rate drop means lower dollar bills for goods purchased through banks, while exporters may see reduced naira revenue for dollar sales. Travelers and those needing foreign cash for personal use will still rely on the higher parallel market unless policy changes improve supply. Will you adjust your import‑export pricing, hold off on foreign‑currency purchases, or explore hedging strategies to benefit from the official‑market gain while the parallel market remains sticky?

SOURCE: https://dailypost.ng/2026/08/23/naira-gains-n11-against-us-dollar-week-on-week/