Naira appreciates to N1,371.82 per dollar at official market

The Naira appreciated against the dollar significantly at the official foreign exchange market on Wednesday, strengthening to N1,371.82 per dollar, up from N1,386.66 the previous day. This represents a daily appreciation of N14.84 against the US currency.

On the black market, however, the Naira remained flat at N1,404 per dollar, maintaining the same rate recorded on Tuesday. This significant gap between official and parallel market rates indicates continued pressure on the local currency.

Nigeria's foreign reserves stood at $48.94 billion on April 7, 2026, showing sustained depletion despite the naira's recent appreciation in the official market. For businesses and individuals, this means imported goods may become cheaper in naira terms, while those earning in dollars will see their naira value increase.

As the naira fluctuates between markets, what's your strategy for managing foreign currency transactions or international business dealings?

SOURCE: https://dailypost.ng/2026/04/08/dollar-to-naira-exchange-rate-today-april-8-2026-naira-appreciates/