Naira records sharp appreciation against US dollar at parallel market

The naira posted a strong gain against the US dollar at the parallel market on Thursday, reversing recent pressures in the segment.

Data from Bureau De Change operators show the currency traded at N1,317 per dollar, improving from N1,350 recorded on Wednesday. The N33 appreciation marks one of the naira’s strongest showings at the black market in recent months.

Abubakar Hassan, a Bureau De Change operator, attributed the movement to lower demand for foreign exchange and recent measures introduced by the Central Bank of Nigeria.

According to him, reduced patronage in the informal market, combined with regulatory interventions, helped support the local currency during the session.

In contrast, the official foreign exchange window recorded a second consecutive decline. The naira weakened by N3.25 to close at N1,341.35 per dollar on Thursday, compared with N1,338.12 the previous day. Over two trading sessions, the currency has lost N5.38 at the official market.

Meanwhile, Nigeria’s external reserves stood at $48.50 billion as of February 17, 2026, based on figures published by the apex bank.

The latest movements follow Wednesday’s session, when the currency delivered mixed results across both the official and parallel market segments.