Naira Gains Ground: CBN Data Shows Appreciation to N1,419.66/$1

The Nigerian Naira has extended its positive run, recording a notable appreciation against the United States Dollar and other major global currencies in the official foreign exchange market.

Naira's Steady Climb Against Major Currencies

Data released by the Central Bank of Nigeria (CBN) for Tuesday, January 13, 2026, shows the domestic currency strengthened by N1.80 or 0.13% to close at N1,419.66 per US dollar. This marks an improvement from the N1,421.46/$1 rate recorded the previous day, Monday.

This performance represents the second consecutive day of gains for the Naira, signaling a period of relative stability. The uptick is widely attributed to a strategic $50 million intervention by the Central Bank of Nigeria, aimed at boosting liquidity and supporting the currency.

The positive momentum was not limited to the US dollar. In the Nigerian Foreign Exchange Market (NAFEM), the Naira also gained value against the British Pound Sterling and the Euro. It rose by N1.86 against the Pound to settle at N1,913.98/£1, up from N1,915.84/£1. Against the Euro, the gain was more pronounced, with the Naira improving by N5.09 to close at N1,656.59/€1, compared to N1,661.68/€1 a day earlier.

Parallel Market and Analyst Perspectives

While the official market saw appreciation, the parallel market told a different story. The Naira held steady against the dollar at N1,495/$1. A Bureau De Change operator, Abdullahi, provided insights into the street market rates, stating, "The dollar buying rate is N1,482, while the selling rate is N1,495. The euro sells at N1,720, and we buy at N1,700. The British pound sterling is selling at N2,010, with a buying rate of N1,985."

Financial analysts have linked the Naira's recovery to a combination of factors. They cite proper CBN support, stronger foreign exchange inflows from foreign portfolio investors (FPIs), improving current account dynamics, and more disciplined foreign exchange management as key drivers behind the currency's newfound stability.

Broader Economic Indicators Support Recovery

The currency's performance is bolstered by improving macroeconomic fundamentals. Reports indicate that Nigeria returned to a balance-of-payments surplus in the third quarter of 2025. This positive shift was supported by higher export earnings, steady remittances from Nigerians abroad, and renewed inflows of foreign capital, all of which have contributed to strengthening the country's external reserves.

In a significant development, Nigeria's external reserves have seen substantial growth. Data from the CBN reveals that the reserves expanded by $4.39 billion, a jump of about 10.75%. The reserves stood at $45.24 billion as of December 2025, a healthy increase from the $40.85 billion recorded at the same point in 2024. This reserve build-up offers fresh optimism regarding the country's foreign exchange stability and provides a stronger buffer for the Naira.

The full exchange rates published by the CBN for NAFEM on Tuesday, January 13, 2026, are listed below: