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Naira Soars Against Dollar as Reserves Rise
The Naira closed the week on a strong note, recording a significant gain against the U.S. dollar on Friday, as Nigeria’s external reserves maintained their upward trajectory.
According to data from the Central Bank of Nigeria (CBN), the local currency appreciated to ₦1,455.17 per dollar at the official foreign exchange market, up from ₦1,466.65 recorded on Thursday. This represents a day-to-day appreciation of ₦11.48, marking one of the strongest performances for the Naira within the week under review.
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The last time the currency hit a similar level was the previous week Thursday, when it traded at ₦1,455.24 per dollar
The positive momentum was also reflected in the parallel (black) market, where the Naira strengthened slightly to ₦1,503 per dollar on Friday, compared to ₦1,505 the previous day.
This improvement coincides with a steady increase in Nigeria’s external reserves, which climbed to $42.58 billion as of October 9, 2025, up from $42.40 billion on October 2.
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