The Nigerian naira continued to gain ground against the United States dollar, closing the week on a positive note in the official foreign‑exchange market. Data from the Central Bank of Nigeria show that the naira appreciated to N1,436.58 per dollar on Friday, a slight improvement from N1,436.74 the day before, representing a daily gain of N0.16.
In the parallel black market, the naira remained stable, trading at N1,445 per dollar on Friday, unchanged from the previous day. This rate was confirmed by Abubakar Alhasan, a bureau de change operator in Abuja.
However, when compared with the same period last week, the official‑market naira had depreciated by N14.85, moving from N1,421.73 to N1,436.58. Despite this weekly decline, the naira has made significant gains in the black market, a development that may be linked to Nigeria’s rising external reserves. As of 6 November 2025, the country’s external reserves stood at $43.32 billion, indicating a positive trend for the economy.
The appreciation of the naira is welcomed because it can boost investor confidence and help stabilize the economy. The foreign‑exchange market has been closely monitored, with the Central Bank of Nigeria implementing various measures to support the naira. These efforts, combined with improving economic fundamentals, appear to be contributing to the currency’s recent strength.
The rise in external reserves is a key factor in the naira’s appreciation, providing a cushion against economic shocks and helping maintain a stable exchange rate. With reserves expected to continue growing, the naira may sustain its current trajectory, offering further support to the country’s economy. As the week ends, investors and stakeholders will be watching the naira’s performance closely, awaiting the next developments in the foreign‑exchange market.
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