The Nigerian Naira has recorded its highest appreciation against the United States dollar at the official foreign exchange market this week. According to data from the Central Bank of Nigeria, the Naira gained significantly, trading at N1,436.97 per dollar on Thursday, up from N1,444.42 on Wednesday. This represents a daily gain of N7.45 against the dollar.

In comparison to previous days, Thursday’s gain is the highest, surpassing the N5.17, N4.58, and N3.78 appreciations recorded in the last four and three days, respectively. The Naira’s strengthened performance is a notable development in the country’s foreign exchange market.

However, at the black market, the Naira remained stable, trading at N1,485 per dollar on Thursday, unchanged from the previous day’s rate. The disparity between the official and black market rates highlights the complexities of Nigeria’s foreign exchange landscape.

The improvement in the Naira’s value coincides with an increase in Nigeria’s external reserves, which rose to $43.11 billion as of October 28th, 2025. This development is likely to have a positive impact on the country’s economy, as a stronger Naira can help reduce the cost of imports and increase the purchasing power of Nigerian consumers.

The Naira’s appreciation against the US dollar is a significant event in Nigeria’s economic landscape. As the country continues to navigate its economic challenges, the performance of its currency will be closely watched by investors, businesses, and individuals alike. The Central Bank of Nigeria’s efforts to stabilize the foreign exchange market and boost the Naira’s value are crucial to promoting economic growth and stability in the country. With the external reserves on the rise, Nigeria’s economy may be poised for further growth and development.