The Nigerian Naira experienced a slight appreciation against the US dollar on Friday, marking a positive end to the week at the official foreign exchange market. According to data from the Central Bank of Nigeria, the Naira strengthened to N1,501.5 against the dollar, representing a gain of N0.60 from the previous day’s rate of N1,502.13.

In contrast, the black market saw the Naira depreciate to N1,537 per dollar on Friday, down from N1,530 the previous day. Despite Thursday’s depreciation, the Naira gained N13.4 against the dollar on a week-on-week basis, improving from N1,514.9 traded the previous Friday.

The country’s external reserves have also shown an increase, reaching $41.66 billion as of September 11, 2025. This development is notable as it indicates a degree of stability in the nation’s foreign exchange market. The Naira’s appreciation against the dollar, although slight, suggests a positive trend in the official foreign exchange market.

The foreign exchange data from the Central Bank of Nigeria provides insight into the performance of the Naira against major currencies. The Naira’s recent gain against the dollar is a welcome development, especially considering the country’s efforts to stabilize its economy. The increase in external reserves also signals a positive outlook for the nation’s economic prospects.

The Nigerian economy has been working to recover from various challenges, and the recent appreciation of the Naira is a step in the right direction. As the country continues to navigate its economic landscape, the performance of the Naira against major currencies will remain a key indicator of its progress. With the external reserves on the rise, Nigeria’s economic stability is likely to be watched closely by international observers and investors.