The Nigerian naira has experienced a significant appreciation against the US dollar in both official and parallel foreign exchange markets. According to data from the Central Bank of Nigeria, the naira strengthened to 1,487.90 against the dollar on Friday, representing a gain of 11.08 naira from the previous day’s rate of 1,498.98.
This improvement was also observed in the black market, where the naira appreciated by 15 naira to 1,522 per dollar on Friday, up from 1,537 on Thursday. The naira’s gains against foreign exchange currencies across various markets on Friday mark a notable reversal from the downtrend experienced on Wednesday and Thursday.
On a week-on-week basis, the naira gained 3.9 naira, rising from 1,501.50 last Friday to the current rate. This development is consistent with the overall trend of the country’s external reserves, which have continued to increase and stood at $41.99 billion as of September 18, 2025, according to the Central Bank of Nigeria’s data.
The appreciation of the naira is a positive development for Nigeria’s economy, particularly in the foreign exchange market. The country’s external reserves have been on the rise, providing a cushion for the naira and supporting its stability. The improvement in the naira’s value could have implications for trade and investment in Nigeria, as a stable currency can boost confidence in the economy.
The Central Bank of Nigeria’s efforts to manage the foreign exchange market and maintain a stable currency have contributed to the naira’s appreciation. The bank’s data shows that the naira has been gaining strength against the US dollar in recent days, which could be a sign of increased investor confidence in the Nigerian economy.
As the Nigerian economy continues to evolve, the stability of the naira will be crucial in attracting foreign investment and promoting trade. The current appreciation of the naira is a step in the right direction, and it will be important to monitor the currency’s performance in the coming days to see if this trend continues.
