The Nigerian naira experienced a significant appreciation on Monday, performing strongly in both the official and parallel foreign exchange markets. According to data from the Central Bank of Nigeria, the naira closed at N1,506.84 per dollar, marking a gain of N8.03 compared to the previous Friday’s close of N1,514.87.
This upward trend indicates a strengthening of the currency against the US dollar, with the naira recording a higher gain on Monday than it did at the official market on Thursday. Similarly, in the black market, the naira firmed up by N9 to close at N1,530 per dollar, representing an improvement from the previous week’s close of N1,539.
The naira’s appreciation suggests that the currency is maintaining its momentum against other foreign currencies at the official market. This development is notable, given the importance of a stable exchange rate in promoting economic growth and investment.
In related news, Nigeria’s external reserves have continued to rise, reaching $41.54 billion on September 4, 2025. This represents an increase from the $41.49 billion reported on the Central Bank’s website the previous day. The growth in external reserves is a positive indicator of the country’s economic health, as it provides a buffer against economic shocks and supports the stability of the naira.
The appreciation of the naira and the rise in external reserves are key indicators of the country’s economic performance. As Nigeria continues to navigate the complexities of the global economy, a stable exchange rate and growing external reserves will be crucial in supporting economic growth and development. The Central Bank of Nigeria’s efforts to maintain a stable exchange rate and build up the country’s external reserves are likely to remain a key focus in the coming weeks and months.
