The Nigerian Naira has recorded its first gain against the US dollar this week at the official foreign exchange market. According to data from the Central Bank of Nigeria, the Naira strengthened to 1,441.4445 against the dollar on Thursday, representing a slight appreciation from the 1,443.08 exchange rate recorded on Wednesday. This translates to a gain of 1.64 Naira against the dollar on a day-to-day basis.

At the black market, however, the Naira remained unchanged at 1,465 per dollar on Thursday, maintaining the same exchange rate as the previous day. Prior to Thursday’s gain, the Naira had experienced a decline throughout the week, with the most significant depreciation occurring on Wednesday.

The Central Bank of Nigeria’s foreign reserves have continued to rise, reaching $43.42 billion as of November 12, 2025, up from $43.39 billion the previous day. This increase in foreign reserves may have contributed to the Naira’s slight appreciation against the dollar.

The Naira’s performance is closely watched by investors and businesses, as it has a significant impact on the country’s economy. A stronger Naira can make imports cheaper and increase the purchasing power of Nigerian consumers, while a weaker Naira can make exports more competitive but also lead to higher inflation.

The recent volatility in the foreign exchange market has been a concern for policymakers, who have been working to stabilize the currency and promote economic growth. The Central Bank of Nigeria has implemented various measures to manage the foreign exchange market and maintain a stable exchange rate.

In the context of the current economic landscape, the Naira’s appreciation against the dollar is a positive development, indicating a potential shift in the country’s economic fortunes. However, it remains to be seen whether this gain will be sustained in the coming days and weeks. As the Nigerian economy continues to evolve, it is essential to monitor the performance of the Naira and its impact on the country’s economic outlook.