Business
Naira Keeps Rising, Dollar Falls Back
The naira extended its strong performance against the U.S. dollar in both the official and parallel foreign exchange markets, rounding off the week on a positive trajectory.
Figures released by the Central Bank of Nigeria showed that the currency appreciated to ₦1,480.66 per dollar on Friday, an improvement from Thursday’s ₦1,488.26. This translates to a daily gain of ₦7.6.
In the parallel market, the naira also advanced, trading at ₦1,495 on Friday compared to ₦1,497 the previous day. The most significant surge during the week, however, was recorded on Wednesday when the currency strengthened sharply in the black market.
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Week-on-week data indicates overall gains of ₦7.24 at the official market and ₦27 in the parallel market.
The local currency’s rebound aligns with a rise in Nigeria’s external reserves, which climbed by 0.45 percent to $42.22 billion as of Thursday, September 25, 2025 — up from $42.03 billion the previous week.
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