The Nigerian naira appreciated against the euro on Friday, closing at N1,557 to €1, compared with N1,570 recorded in the previous trading session, according to the latest data from the Central Bank of Nigeria (CBN).
The latest movement represents a N13 gain for the naira against the European currency, reinforcing the relative stability observed in the foreign exchange market in recent weeks.
The EUR/NGN exchange rate had peaked at around N1,774/€1 in January 2026 before retreating to a multi-month low of approximately N1,555/€1.
Since the beginning of July, the pair has traded within a relatively narrow range of about N1,561 to N1,576.7 per euro, indicating limited volatility in the market.
The naira’s recent performance has been attributed in part to the CBN’s tight monetary policy stance and measures aimed at improving foreign exchange market stability.
High domestic interest rates have also helped support portfolio inflows, while the CBN’s efforts to manage liquidity and reduce market disruptions have contributed to a more controlled exchange-rate environment.
Meanwhile, the euro was trading at around $1.14 against the US dollar in London on Friday, following a slight decline from the previous session.
Market analysts noted that further gains by the euro remain possible in the short term, although the pair’s upward movement could be constrained by global developments, including geopolitical tensions and movements in crude oil prices.
The European Central Bank (ECB) has maintained its focus on bringing inflation back towards its medium-term 2% target amid continued economic uncertainty.
The latest stability in the euro-naira exchange rate comes as Nigeria’s currency continues to show relative resilience against major international currencies, supported by tighter monetary conditions and improved foreign exchange market dynamics.
