Naira Gains Against Dollar on April 9, 2026

On April 9, 2026, the Nigerian naira showed a notable appreciation against the US dollar, trading at N1,371.82 per dollar in the official foreign exchange market, according to data released by the Central Bank of Nigeria (CBN). This represented an improvement of N14.84 from the previous day's rate of N1,386.66.

Despite this positive movement in the official market, the parallel market, commonly referred to as the black market, remained unchanged, with the naira trading at N1,404 per dollar. The latest figures indicate that the local currency has appreciated on a daily basis.

However, the situation is compounded by a decline in Nigeria's foreign reserves, which stood at $48.94 billion as of April 7, 2026. Earlier on the same day, the naira exhibited mixed performance across various foreign exchange markets.