The Nigerian Naira commenced the week on a positive note, appreciating against the US dollar at the official foreign exchange market. According to data from the Central Bank of Nigeria, the Naira strengthened to N1,451.82 against the dollar on Monday, representing a gain of N2.59 from the N1,454.41 recorded on Friday last week.
This development indicates a slight improvement in the value of the Naira against the US dollar, with the local currency gaining ground at the official market. In contrast, the black market saw a marginal decline in the Naira’s value, with the exchange rate dipping to N1,493 per dollar on Monday, down from N1,495 on Friday.
The appreciation of the Naira at the official market comes amid an upward trend in Nigeria’s foreign reserves, which stood at $45.47 billion as of December 12, 2025. This increase in foreign reserves may have contributed to the Naira’s gain against the dollar, as a stronger reserve position can help to bolster the value of a country’s currency.
The Naira’s performance against the dollar has been closely watched in recent times, with the currency experiencing fluctuations in value. Last week, the Naira appreciated only once against the dollar, highlighting the volatility of the foreign exchange market in Nigeria.
The Central Bank of Nigeria has been working to stabilize the foreign exchange market and maintain a steady supply of dollars to meet demand. The bank’s efforts, combined with the increase in foreign reserves, may help to support the value of the Naira in the coming weeks.
As the Nigerian economy continues to evolve, the performance of the Naira against major currencies like the US dollar will remain a key area of focus. The foreign exchange market is closely tied to the overall health of the economy, and any significant changes in the value of the Naira can have far-reaching implications for trade, investment, and economic growth.
