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Naira Appreciates Against Dollar, Pound, Euro In Black Market

February 17, 2026
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Naira Falls Against Dollar In Black Market As Demand Increases In FX Market

The foreign exchange (FX) rate of the United States dollar (USD) decreased to N1,398.79 kobo per $1 in the black market on Tuesday, February 17.

Naira Rates, the black market aggregator, said the price for the USD dropped from N1,444.88 kobo/$1 recorded on Monday, February 16, representing a N46.09 decline in the FX rate and a 3.18 percent appreciation in the value of the naira.

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Also, the FX rate for the pound fell from the previous day’s N1,989.99 kobo per £1 to N1,939.99 kobo per £1, representing a decrease of N50 and a 2.57 percent appreciation in the value of the Nigerian currency.

In the same vein, the naira appreciated against the euro by 2.14 percent as the FX rate for the European currency dropped to N1,689.99 kobo per €1.

The price for the euro had dropped from N1,727 per €1 recorded the day before, indicating a N37.01 decline.

In addition, the official dollar rate in the Nigerian foreign exchange market (NFEM) dropped by N8.05 or 0.59 percent to N1,335.95 kobo per $1, from the previous day’s N1,344 per USD.

Data provided by the Central Bank of Nigeria (CBN) showed that USD was priced as high as N1,344 per dollar, and as low as N1,318 per $1, before closing at N1,337 per dollar.

The data also revealed that the pound was traded at N1,806.07 per dollar, down from the N1,833.34 kobo per £1 reported on Monday, representing a N27.27 kobo or 1.48 percent decline.

Also, the euro depreciated against the naira by 0.9 percent as the FX rate for both currencies dropped by N14.34 kobo, from N1,592.98 kobo per €1 to N1,578.64 kobo per €1.

For press releases, tip-offs, and corporate information, call 08149575257 (hotline), email: editor@primebusiness.africa and publisher@primebusiness.africa

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