Naira Strengthens Against Pound, Dollar, Euro, CBN Releases New Exchange Rates
The Nigerian naira has shown significant appreciation against major global currencies, including the dollar, pound, and euro. Analysts attribute this recovery to increased oil revenues, higher remittance inflows, and growing foreign investor interest.
Why it matters
A strengthening currency could signal economic stabilization for Nigeria, potentially curbing inflation and improving investor confidence.
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian naira recorded gains against the British pound, the US dollar, and the euro in the official foreign exchange market on Wednesday, September 2, 2026, continuing a run of positive performance that analysts say could mark the currency's best annual showing in nearly a decade.
At the Nigerian Foreign Exchange Market (NFEM), the naira appreciated by N2.74, or 0.21%, against the dollar to close at N1,326.69 per dollar, compared with N1,329.43 recorded in the previous session.
Naira appreciates to strongest level in 2 years, CBN releases new exchange rates
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