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The naira continued its upward momentum on Monday, appreciating to N1,355/$ at the official foreign exchange market, according to Central Bank of Nigeria (CBN) data.

The latest figure reflects an improvement from N1,363.5/$ recorded on Friday, indicating sustained gains in recent trading sessions.

The movement shows that the currency has maintained a recovery trend over the past week, supported by relatively stable market conditions.

Monday’s performance also places the naira at its strongest level since February 23, 2026, when it closed at N1,353.5/$.

The current rally contrasts sharply with the previous week’s Monday close of N1,425/$, which represented the currency’s weakest level since January 12, 2026.

The development highlights the extent of the rebound following early-month volatility.

CBN trading data shows that the naira closed at N1,355/$ on Monday, marking continued appreciation in the official market.

Intraday trading ranged between N1,365.35/$ and N1,354/$, indicating relatively stable activity throughout the session.

The currency recorded steady gains over the past week, reflecting a consistent appreciation trend in the official market:

The sequential gains highlight sustained momentum in the currency’s recent recovery.

External factors continue to influence broader currency movements across global markets.

The Central Bank of Nigeria says the country’s improving external reserve position could help cushion the naira against prolonged pressure.

The naira’s sustained appreciation signals short-term strength in the official foreign exchange market and suggests improving stability in recent sessions.

If the current momentum continues, the currency could test stronger levels in the near term, particularly if liquidity conditions remain supportive.