Dollar to Naira Exchange Rate Today, July 16, 2026: Nigerian Naira extends appreciation
The Nigerian Naira has shown slight appreciation against the US dollar in the official foreign exchange market. This trend is supported by an increase in the country's foreign reserves and a recent decline in inflation rates.
The Naira continued to appreciate against the official foreign exchange market on Thursday for the second consecutive time this week. The Central Bank of Nigeria's data showed that the Naira strengthened to N1,381.53 per dollar on Thursday, up from N1,382.18 traded on Wednesday. This means that on a day-to-day basis the Nigerian currency appreciated by N0.65 against the dollar at the official foreign exchange market. Meanwhile, at the black market, the Naira remained flat at N1430 per dollar on Thursday, the same rate exchanged on Wednesday. The development comes as the country's foreign reserves rose further to $51.89 billion, according to the apex bank data on July 15th, 2026. Recall that the Naira appreciated against the dollar on Wednesday after Nigeria's inflation slightly declined to 15.91 percent in June.
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