Naira Ends January at N1,391/$

In the foreign exchange market, the Naira ended January on a high note, closing at N1,391 to the dollar, compared to its opening rate of N1,431 per dollar.

The Naira trading below the N1,425/$ mark reflects heightened stability in the market, according to data from the Central Bank of Nigeria (CBN).

Naira Closes January at N1,391/$ Credit: Business Day.

This performance builds on gains recorded at the end of 2025. On December 31, 2025, the Nigerian currency closed trading at N1,429/$1, representing a 7.4% appreciation from the N1,535/$1 recorded on the final trading day of 2024.

When compared with January 2025, when the naira ended at N1,475/$, January 2026’s outcome marks a notable gain.

In the parallel market, the naira also strengthened, closing at N1,453/$ from an opening rate of N1,474/$.

The slim gap between official and parallel market rates indicates improved confidence in the foreign exchange market, laying the groundwork for a potentially steadier 2026.