Business
Relief as Naira Rises Against Dollar
The Naira closed the week on a positive note after recording a slight appreciation against the US dollar at the official foreign exchange market on Friday.
According to data from the Central Bank of Nigeria (CBN), the Naira strengthened to ₦1,501.5/$1 on Friday, compared to ₦1,502.13/$1 traded on Thursday. This reflects a day-to-day gain of ₦0.60.
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However, in the parallel (black) market, the local currency slipped, weakening to ₦1,537/$1 from ₦1,530/$1 recorded the previous day.
On a weekly basis, DAILY POST reports that the Naira appreciated by ₦13.4 against the dollar, rising from ₦1,514.9/$1 last week Friday despite Thursday’s brief depreciation.
The positive performance coincides with a rise in the country’s external reserves, which stood at $41.66 billion as of September 11, 2025.
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