The Nigerian Naira has recorded its third consecutive appreciation against the United States dollar at the official foreign exchange market. According to data from the Central Bank of Nigeria, the Naira strengthened to N1,442.92 per dollar on Wednesday, up from N1,446.3156 on Tuesday. This represents a gain of N3.4 against the dollar on a day-to-day basis.
At the black market, the Naira remained stable at N1,465 per dollar, unchanged from the previous day. However, in the last three days, the Naira has gained a significant N10.92, nearly reversing the losses incurred in the past week. This development is a positive trend for the Nigerian currency, which has been experiencing fluctuations in recent times.
The improvement in the Naira’s value comes as Nigeria’s foreign reserves have risen to $44.46 billion as of November 24, 2025, according to the Central Bank of Nigeria. This increase in foreign reserves is a significant factor in the Naira’s appreciation, as it indicates a higher level of confidence in the Nigerian economy.
The Naira’s appreciation against the dollar is a welcome development for businesses and individuals who rely on foreign exchange for imports and other transactions. A stronger Naira can help reduce the cost of imports, making goods and services more affordable for consumers. Additionally, a stable exchange rate can attract foreign investment, boost economic growth, and create jobs.
The Central Bank of Nigeria has been working to stabilize the exchange rate and improve the country’s foreign exchange market. The bank’s efforts, combined with the increase in foreign reserves, have contributed to the Naira’s recent appreciation. As the Nigerian economy continues to evolve, it is essential to monitor the exchange rate and foreign reserves to understand the overall health of the economy.
The Naira’s performance against the dollar will be closely watched in the coming days, as it has a significant impact on the country’s trade and economic activities. With the current trend, it is likely that the Naira will continue to appreciate, but it is crucial to maintain a stable exchange rate to ensure the sustainability of the Nigerian economy.