{
  "id": 5050369,
  "title": "Naira breaks N1,330/$ barrier, hits strongest level in two years",
  "url": "https://urgent.news/2026/09/02/naira-breaks-n1-330-barrier-hits-strongest-level-in-two-years",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T08:04:19.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/09/02/naira-breaks-n1330-barrier-hits-strongest-level-in-two-years/"
  },
  "original_language": "en",
  "account": "The Nigerian naira surged to N1,329/$ on Tuesday, September 1, 2026, reaching the highest level in two years. This marked the first time the currency had dipped below the N1,330/$ threshold since 2024, with a gain of N6.50 or 0.49% from the previous day's N1,335.50/$ rate. The Nairametrics database revealed that Tuesday's closing rate was the strongest level recorded by the naira since May 29, 2024. The latest appreciation followed a strong recovery observed in the latter half of August, with the naira trading within a tight range of N1,327 to N1,335.50/$, and the weighted average rate at N1,329.43/$. Interbank turnover amounted to $139.45 million. The stronger performance of the naira was attributed to Nigeria's growing external reserves, which could bolster the Central Bank's foreign-currency buffer and enhance confidence in the country's external standing. The recent appreciation also came after a period of increased stability in the foreign exchange market, with the naira gradually declining from the N1,350/$ range in late August. The naira had recorded its first April appreciation under the NAFEX era since 2024, further reinforcing Nigeria's foreign exchange buffer and capacity to meet international obligations. In July, the Monetary Policy Committee maintained the Monetary Policy Rate at 26.5% during its meeting on July 20 and 21, 2026, amid concerns over control and past abuses in the Bureau De Change (BDC) market.",
  "summary": "The naira strengthened to N1,329/$ on Tuesday, September 1, 2026, breaking below the N1,330/$ mark for the first time since 2024 The post Naira breaks N1,330/$ barrier, hits strongest level in two years appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}