Naira Holds Steady at N1,346.49 Per Dollar

The naira traded steadily against the dollar on Monday, with the gap between official and parallel market rates remaining narrow following recent gains.

Central Bank of Nigeria data showed the naira at N1,346.49 per dollar on Friday, the latest available official figure.

The currency gained N1.14 from the previous day and N11.12 over the past week, according to the bank’s exchange rate portal.

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The dollar traded between N1,342 and N1,348 during Friday’s session before settling at N1,346.90.

In the parallel market, the naira held at N1,405 per dollar, matching Thursday’s level, according to AbokiFX data.

Naira Remains Stable Against US Dollar (News Central TV) — Bundles of naira and dollar notes. Credit: Naija News.

The spread between the official rate of N1,346.90 and the parallel market stood at N58.10.

Improved foreign-exchange liquidity and stronger external reserves have supported the naira’s recent performance.

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CBN data showed Nigeria’s reserves at $52.66 billion as of August 19.

The official NFEM rate for Monday had not been published at the time of reporting. A separate live benchmark showed the dollar trading around N1,348.88, close to the official level.

Actual rates for currency transactions may vary depending on the bank, bureau de change, location and transaction size.

Author

Jimisayo Opanuga

Jimisayo Opanuga is a web writer in the Digital Department at News Central TV, where she covers African and international stories. Her reporting focuses on social issues, health, justice, and the environment, alongside general-interest news. She is passionate about telling stories that inform the public and give voice to underreported communities.