Naira Strengthens to ₦1,363.5 After Week of Volatility

The naira closed at ₦1,363.5 per dollar on Friday, recovering from a sharp depreciation earlier this week. The currency fell to ₦1,425 on Monday, its weakest level since January 12, 2026, before rebounding to ₦1,390.5 by Tuesday and ₦1,373.5 on Wednesday. The Central Bank of Nigeria (CBN) attributes the recovery to improved external reserves, which rose to $34.80 billion at year-end 2025. Governor Olayemi Cardoso stated ongoing monetary and forex reforms aim to strengthen market confidence and liquidity. This week's ₦60 gain follows a ₦27 depreciation from Friday to Monday.

SOURCE: https://www.channelstv.com/2026/03/14/naira-rebounds-to-%e2%82%a61363-5/