Naira Strengthens to N1,337 vs Dollar, Strongest Since May 2024

The Naira appreciated to N1,337 per dollar at Nigeria's official foreign exchange market on Tuesday, up from N1,344 on Monday. This marks the strongest official closing rate since May 29, 2024, when it traded at N1,329.65. Improved dollar liquidity, parallel market gains, and global geopolitical shifts drove the recovery. The Central Bank of Nigeria (CBN) confirmed the data. The Naira also strengthened in the parallel market to N1,382.50 from N1,393.35. CBN Governor Olayemi Cardoso highlighted Nigeria's role in advancing Africa's single currency agenda. The CBN's next MPC meeting is scheduled for February 23-24, 2026, following a 50-basis-point rate cut in September 2025. What should you know: The rate change affects import costs and investment decisions. Will you adjust your business strategies or monitor further policy shifts?

SOURCE: https://nairametrics.com/2026/02/18/naira-strengthens-to-n1337-amid-global-peace-talks/