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 per dollar in the official foreign‑exchange market, a gain of N1.76 from the previous day’s rate of N1,438.49.
The upward trend is also evident 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 currency has shown mixed performance, with two days of gains and two days of losses.
The improvement coincides with a rise in Nigeria’s external reserves, which have increased to $43.27 billion, with the latest figure standing at $43.28 billion as of 4 November 2025. A stronger reserve position can enhance the country’s ability to meet international payment obligations and help maintain a stable exchange rate.
The foreign‑exchange market is a key indicator of economic health, and fluctuations in the naira’s value have significant implications for Nigeria’s trade and investment activities. A stable exchange rate can boost investor confidence and support economic growth, while volatility can create uncertainty and undermine business operations.
As the naira continues to experience volatility, it is essential to monitor Nigeria’s economic fundamentals—including external reserves, inflation, and trade balance—to understand the 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.
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