MON JAN 19 2026-theGBJournal| The naira on Monday appreciated against the US Dollar at the NAFEM window, strengthening by 0.9% to N1,416.95/US$, as the Central Bank of Nigeria (CBN) continues to prioritize exchange rate stability
rather than aggressive appreciation through 2026.
The gains comes off the back of a 0.37% week-on-week gain last week.
The currency softened slightly in the parallel market on Friday, closing at N1,493.00/US$ compared with N1,490.00/US$ in the previous week, reflecting a marginal 0.20% week-on-week depreciation.
At the forwards market, the naira rates appreciated across the 1-month (+1.0% to N1,444.96/USD), 3-month (+0.7% to N1,490.77/USD), 6-month (+1.3% to N1,545.97/USD) and 1-year (+1.5% to N1,661.55/USD) contracts.
Meanwhile, the latest CBN figures shows that Nigeria’s gross foreign exchange reserves has risen to US$45.86 billion, marking an increase of US$186.49 million or 0.41% last week, with reserves recording consistent day-to-day accretion throughout the period.
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