THUR FEB 12 2026-theGBJournal| A resurgent Naira pushed towards its biggest weekly gain against the US dollar in more than a year on Thursday, despite a marginal 0.4% depreciation and suggesting a shift in undue demand pressure in the currency market.
The naira is down N1,354.80 to the US dollar at the official Central Bank of Nigeria (CBN) window after stellar performances in the first three days of the week, after broad-based gain against the dollar across both official and parallel market markets last week.
The naira closed last week 1.47% week-on-week up against the dollar, finishing at N1,366.20/US$1, compared with N1,386.55/US$1 in the preceding week.
Similarly, the Naira appreciated in the parallel market by 0.34% to N1,460.00/US$, from N1,465.00/US$ previously.
Meanwhile, at the parallel market, the currency maintained its gradual gains against the US dollar, closing at N1,440/US$1 and N1,450/US$ for both buying and selling rates respectively today, according to data from Bureau De Change (BDC) operators who the CBN recently opened its foreign exchange tap for.
Notably, the CBN has continued to maintain a policy focus on exchange rate stability, anchored on disciplined monetary policy, measured foreign exchange interventions, and prudent reserve management, aimed at sustaining investor confidence while containing volatility in the foreign exchange market, rather than pursue aggressive currency appreciation through 2026.
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