Naira Hits Two-Year High at ₦1,329/$ as Forex Turnover Rises
The naira strengthened to ₦1,329.43 per dollar at the official market on September 1, 2026, its strongest position in more than two years. It gained ₦6.50 from ₦1,335.50/$ recorded the previous trading day. The currency has gained about ₦29.25, or 2.15%, since August 14. It also appreciated at the parallel market to ₦1,375/$, while forex turnover rose 30.8% to $139.45 million across 139 deals. Nigeria’s external reserves reached $53.8 billion as of August 31, up from $45.57 billion at the start of the year. The CBN also published updated rates for major currencies as BDC operators seek more time to meet new recapitalisation requirements.
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