Business
Naira Gains Against Dollar on Black Market
The Naira appreciated against the US dollar at the parallel foreign exchange market on Tuesday, trading at ₦1,500 per dollar, up from ₦1,505 recorded on Monday.
A Bureau De Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, confirmed the development, noting a ₦5 gain for the local currency at the unofficial market.
However, the Naira continued to depreciate at the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN).
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The CBN figures showed that the Naira weakened for the second consecutive day, falling to ₦1,471.09 per dollar on Tuesday from ₦1,470.26 traded on Monday — a ₦0.83 day-to-day drop.
This mixed performance came as Nigeria’s external reserves climbed further to $42.54 billion as of October 6, 2025, up from $42.44 billion on October 3.
The movement followed Monday’s depreciation of the Naira across both official and parallel FX markets.
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