The Naira closed at ₦1,361 per dollar in the official foreign exchange market as the U.S. dollar maintained strength following stronger-than-expected American jobs data.

Market reports indicate that the dollar gained support globally after fresh labour market figures from the United States suggested continued resilience in the world’s largest economy. The development boosted demand for the greenback, putting pressure on emerging market currencies, including the Naira.

Traders noted that foreign exchange activity remained relatively stable during the trading session, although demand for dollars continued to outweigh supply in Nigeria’s official market window. The parallel market also reflected similar pressure, with rates remaining elevated amid ongoing forex liquidity challenges.

Analysts say Nigeria’s exchange rate continues to respond to global economic signals as well as domestic supply constraints. They added that sustained dollar strength, coupled with limited inflows, could keep pressure on the Naira in the short term.

The Central Bank of Nigeria (CBN) has maintained efforts to stabilize the forex market through policy adjustments and improved supply interventions, but market participants say more consistent inflows are needed to ease volatility.

Economic observers note that global factors, including U.S. monetary policy expectations and labour market performance, will continue to influence emerging market currencies in the coming weeks.

As trading continues, attention remains on both domestic reforms and external economic signals shaping the direction of the Naira.