The Nigerian naira continued to gain strength against the British pound in the foreign exchange market.
According to the latest data from the Central Bank of Nigeria (CBN), the naira closed at N1,823 per pound on Friday, June 5, 2026.
This represents a slight improvement from the beginning of June when the exchange rate was around N1,845 per pound.
The appreciation comes as the CBN continues efforts to manage liquidity and stabilize the foreign exchange market. The bank maintained its Monetary Policy Rate (MPR) at 26.5% and kept the Cash Reserve Ratio (CRR) at 45% to reduce excess liquidity in the financial system.
Nigeria’s foreign reserves, estimated at about $50 billion, have also helped support the naira. High crude oil prices, currently around $100 per barrel, have boosted the country’s foreign exchange earnings and reserves.
Market analysts noted that even though the British pound gained value against the US dollar
This post was originally published on this site.
