CBN Releases Dollar, Pound and Euro New Exchange Rates as Foreign Reserves Drop
- The naira appreciated by N1.91 against the US dollar to close at N1,353.97/$ at the official foreign exchange market on Friday, November 13, 2026
- Nigeria’s external reserves declined by approximately $300 million in 10 days, falling from $55.17 billion on November 2 to $54.87 billion on November 12
- The reserves recorded a 0.54% decline, even as the naira strengthened against the pound sterling and euro
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The naira appreciated against the US dollar at the official foreign exchange market on Friday, November 13, 2026, even as Nigeria’s external reserves continued to decline.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency strengthened to N1,353.97/$ from N1,355.88/$ recorded on Thursday.
Source: Getty Images
The latest exchange rate represents an appreciation of N1.91 or 0.14% against the dollar in one trading session.
Naira gains against pound and euro
The domestic currency also strengthened against other major international currencies at the official market.
The naira gained N6.45 against the British pound to close at N1,791.44/£1, compared with N1,797.89/£1 recorded in the previous session.
Similarly, it appreciated by N6.45 against the euro to settle at N1,496.68/€, up from N1,503.13/€.
However, the currency maintained stability in the parallel market and at the GTBank foreign exchange desk, trading at N1,390/$ and N1,365/$, respectively.
Trading activity declined during the session, with interbank foreign exchange transactions falling by 27.5% to $466.97 million from $644.85 million recorded a day earlier.
The number of deals also dropped to 146 from 242 transactions.
Nigeria's external reserves lose $300 million
Despite the naira's appreciation, Nigeria's external reserves declined by approximately $300 million within 10 days.
Data from the Central Bank of Nigeria (CBN) showed that the country's gross external reserves fell from $55.17 billion on November 2, 2026, to $54.87 billion on November 12, 2026.
This represents a 0.54% decline in Nigeria's external reserves within the period.
The decline comes amid concerns about foreign exchange outflows and offshore investors reducing their exposure to naira-denominated assets.
The development has renewed attention on the effectiveness of the CBN's foreign exchange reforms and the country's ability to sustain improvements in the naira's value.
Source: Getty Images
CBN releases new exchange rates
Meanwhile, the Central Bank of Nigeria published updated exchange rates for major international currencies on Friday, November 13, 2026.
The selling rates were:
- CFA: N2.29
- Chinese yuan/renminbi: N202.92
- Danish krone: N200.17
- Euro: N1,496.68
- Japanese yen: N8.46
- Saudi riyal: N360.76
- South African rand: N79.79
- SDR: N1,826.92
- Swiss franc: N1,614.95
- British pound sterling: N1,791.44
- US dollar: N1,353.97
- WAUA: N1,828.75
- UAE dirham: N368.60
Source: Legit.ng
