The Nigerian naira has rebounded, gaining strength against the U.S. dollar in the official foreign‑exchange market. Central Bank of Nigeria data show the naira appreciated to N1,452.13 on Thursday, up from N1,454.19 the previous day—a daily gain of N2.06 per dollar. In contrast, the black‑market rate slipped, with the naira falling to N1,470 per dollar on Thursday from N1,465 the day before, a depreciation of N5.
The central bank’s figures also indicate that Nigeria’s external reserves have continued to rise, reaching $44.12 billion as of 19 November 2025, despite mixed sentiment in the currency market. The recent appreciation follows the naira’s highest depreciation against the dollar in the official market on Wednesday, highlighting the currency’s volatility, which has drawn close attention from investors and traders.
Efforts by the Central Bank of Nigeria to stabilize the naira and manage inflation have included interventions in the foreign‑exchange market, contributing to the recent gains. However, the black‑market depreciation suggests that challenges remain. Nigeria’s economy faces several headwinds, such as a sizable trade deficit, heavy reliance on imports, and the impact of global events like fluctuating oil prices.
As Africa’s largest economy, Nigeria’s economic health has significant regional and global implications. While the naira’s appreciation against the U.S. dollar is a positive development, it is uncertain whether the trend will persist. The central bank is expected to keep monitoring the currency’s performance and take steps to maintain stability in the foreign‑exchange market, as investors and analysts worldwide continue to watch Nigeria’s economic trajectory.
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