US Dollar to Naira Exchange rate: Official, parallel FX market gap now below 2% – CBN

The Central Bank of Nigeria, CBN, has said the spread betwixt the authoritative and parallel overseas speech markets has narrowed to beneath 2 percent.

CBN Governor, Dr. Olayemi Cardoso, disclosed this connected Tuesday astatine an lawsuit successful Gombe.

Cardoso, who was represented by the apex bank’s acting spokesperson, Mrs. Hakama Sidi-Ali, said the naira had continued to fortify against the dollar crossed the overseas speech markets.

“The naira continues to strengthen, with the dispersed betwixt authoritative and Bureau de Change rates present beneath 2 per cent,” helium said, according to the News Agency of Nigeria.

Cardoso attributed the gains to reforms successful the sector, which helium said had led to a dependable summation successful the country’s outer reserves, which stood astatine $51.94 cardinal arsenic of August 3, 2026, according to CBN data.

DAILY POST reports that the naira appreciated against the dollar astatine the authoritative market, closing astatine N1,362.55/$1, portion the achromatic marketplace speech complaint stood astatine N1,425/$1 connected Wednesday.