Naira strengthens to N1,337/$ amid world peace talks

The Naira appreciated to N1,337 per greenback on the official international change market on Tuesday, up from N1,344 recorded on Monday.

That is in line with knowledge from the Central Bank of Nigeria’s (CBN) web site on Tuesday.

The most recent figures present the naira posting its strongest official closing fee since Could 29, 2024, when it settled at N1,329.65 per greenback.

The appreciation comes amid improved greenback liquidity, parallel market features, and shifting world geopolitical and financial coverage indicators that proceed to form rising market currencies.

What the information is saying
The naira strengthened in each the official and parallel international change markets on Tuesday, reflecting improved provide situations and calmer investor sentiment. Knowledge launched by the Central Bank of Nigeria confirms the forex closed at N1,337 per greenback, extending its gradual restoration pattern.

The official market fee improved from N1,344 per greenback on Monday to N1,337 per greenback on Tuesday.
This marks the strongest official shut since Could 29, 2024, when the forex traded at N1,329.65 per greenback.
Within the parallel market, the naira traded at N1,382.5 per greenback, in comparison with N1,393.35 per greenback a day earlier.
The information suggests renewed short-term stability within the FX market, supported by higher greenback provide dynamics and speculative repositioning by merchants.

Extra Insights
International market developments additionally influenced forex actions, because the U.S. greenback held regular amid geopolitical indicators and financial coverage expectations. Traders are carefully watching coverage steerage from the Federal Reserve for readability on potential rate of interest cuts this yr.

Diplomatic discussions between Iran and america helped ease some geopolitical tensions.
Ongoing negotiations involving Ukraine and Russia supported improved world danger urge for food.
The greenback index remained broadly unchanged after latest features in opposition to main currencies.
Traders are awaiting minutes from the Federal Open Market Committee and upcoming U.S. GDP knowledge for clearer financial route.
Such world shifts usually have an effect on capital flows into rising markets, influencing change fee efficiency in international locations like Nigeria.

What it is best to know
Yesterday, Governor of the CBN, Olayemi Cardoso, stated Nigeria is taking part in a pivotal function in advancing Africa’s single forex agenda.

Final week, CBN introduced plans to carry its 304th Financial Coverage Committee (MPC) assembly on Monday and Tuesday, February 23 and 24, 2026.
At its final MPC assembly in November 2025, the CBN retained the Financial Coverage Charge at 27 p.c, sustaining its restrictive posture in a bid to curb inflationary pressures and stabilise the international change market.
Earlier, at its 302nd MPC assembly in September 2025, the committee lowered the MPR by 50 foundation factors, decreasing it from 27.5 p.c to 27 p.c.

The MPC additionally adjusted the uneven hall across the MPR to +250/-250 foundation factors, narrowing it from the earlier +500/-100 vary.