The Nigerian Naira has rebounded, gaining strength against the US dollar in the official foreign exchange market. According to data from the Central Bank of Nigeria, the Naira appreciated to N1,452.13 on Thursday, up from N1,454.19 the previous day. This represents a daily gain of N2.06 against the dollar.

In contrast, the black market saw the Naira depreciate by N5 to N1,470 per dollar on Thursday, down from N1,465 the day before. The Central Bank’s data also shows that Nigeria’s external reserves have continued to rise, reaching $44.12 billion as of November 19, 2025, despite mixed sentiments in the currency exchange market.

The Naira’s appreciation comes after it recorded its highest depreciation against the dollar at the official FX market on Wednesday. The currency’s volatility has been a subject of interest in recent times, with investors and traders closely watching its performance.

The Central Bank of Nigeria’s efforts to stabilize the currency and manage inflation have been ongoing. The bank’s actions, including interventions in the foreign exchange market, have contributed to the Naira’s recent appreciation. However, the black market’s depreciation of the Naira suggests that there may still be challenges ahead for the currency.

Nigeria’s economy has been facing various challenges, including a significant trade deficit and a reliance on imports. The country’s economic performance has been impacted by global events, including fluctuations in oil prices. As the largest economy in Africa, Nigeria’s economic health has significant implications for the region and beyond.

The appreciation of the Naira against the US dollar is a positive development, but it remains to be seen whether this trend will continue. The Central Bank of Nigeria will likely continue to monitor the currency’s performance and take steps to maintain stability in the foreign exchange market. As the global economy continues to evolve, Nigeria’s economic performance will be closely watched by investors and analysts around the world.