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The naira appreciated by N7.27 against the US dollar in the official foreign exchange market, closing at N1,372.41/$1CBN data shows Nigeria’s external reserves rose to $51.46 billion at the end of the first half of 2026The local currency traded flat in the parallel market as lower interbank FX demand eased pressure
The Nigerian naira on Wednesday, July 1, further extended its gains in the official foreign exchange market against the United States Dollar.
The gain recorded in recent days has been facilitated by an increased flow of dollars and decreased demand for the greenback.
The naira appreciates by N7.27 against the US dollar in the latest CBN exchange rate update. Photo: BloombergSource: Getty Images
According to data from the Nigerian Foreign Exchange Market (NAFEM), N7.27 or 0.39% was gained to close the market at N1,372.41 for every $1, compared to N1,379.68 on Tuesday.
Naira compared to other currencies
The local currency also strengthened against
