Naira crosses N1,330/$ mark, strongest since 2024

The naira strengthened to N1,329/$ on Tuesday, breaking below N1,330/$ for the first time since 2024, according to Nairametrics. The currency gained N6.50, or 0.49%, from N1,335.50/$ recorded Monday, marking its strongest close since May 2024, per Central Bank of Nigeria data.

From August 14 to September 1, the naira appreciated by N29.25, or 2.15%. Interbank turnover stood at $139.45 million. The rally coincides with Nigeria’s external reserves climbing to $53.8 billion by August 31, up over $8 billion since January, surpassing the CBN’s full-year 2026 projection of roughly $51.04 billion.