The Nigerian Naira has strengthened against the United States dollar for the second time this week, according to recent data from the Central Bank of Nigeria. As of Thursday, the Naira appreciated to N1,436.74 against the dollar at the official foreign exchange market, representing a gain of N1.76 from the previous day’s rate of N1,438.49.

This upward trend is also reflected in the black market, where the Naira traded at N1,445 per dollar on Thursday, up from N1,450 on Wednesday, as reported by Bureau De Change operators in Abuja. Over the past four days, the Naira has experienced mixed sentiments in the foreign exchange market, with two days of gains and two days of losses.

The improvement in the Naira’s value comes as Nigeria’s external reserves have risen to $43.27 billion, with the latest figure standing at $43.28 billion as of November 4, 2025. This increase in reserves may contribute to the Naira’s appreciation, as a stronger reserve position can enhance a country’s ability to meet its international payment obligations and maintain a stable exchange rate.

The foreign exchange market is a key indicator of a country’s economic health, and fluctuations in the Naira’s value can have significant implications for Nigeria’s trade and investment activities. A stable exchange rate can boost investor confidence and support economic growth, while a volatile exchange rate can create uncertainty and undermine business operations.

As the Naira continues to experience volatility in the foreign exchange market, it is essential to monitor the country’s economic fundamentals, including its external reserves, inflation rate, and trade balance, to understand the underlying factors driving the currency’s performance. The Central Bank of Nigeria’s monetary policy decisions and the government’s economic strategies will also play a crucial role in shaping the Naira’s trajectory in the coming days and weeks.