Naira Strengthens to N1,355.25 per Dollar in Weekly Rally

The Nigerian naira strengthened against the US dollar at the official Investors and Exporters Window, closing at N1,355.25 per dollar on Friday, April 10, 2026, in Lagos, according to Central Bank of Nigeria data. This marked the currency's strongest level in recent weeks and capped a four-day rally following the Easter holiday, with the naira gaining N33.75 from its Tuesday opening of N1,389.

Trading resumed on Tuesday after the break, with the naira initially at N1,389, reflecting some post-holiday weakness from the pre-Easter close of N1,382.75 on April 2. It then appreciated steadily, reaching N1,369 on Wednesday, N1,365 on Thursday, and the week's high on Friday. In the parallel market, the naira also improved, trading at around N1,390 per dollar on Thursday, up from N1,410 the previous day, though rates remained higher than official levels, with early Friday sessions in Lagos and Abuja showing buys at N1,450 to N1,470 depending on transaction volume.

The appreciation aligned with a broader decline in the US dollar globally, driven by the unwinding of safe-haven positions after a ceasefire in the Middle East conflict involving the United States, Israel, and Iran. Earlier...