The Nigerian naira began the week on a positive note, appreciating against the U.S. dollar in the official foreign‑exchange market. According to data from the Central Bank of Nigeria, the naira strengthened to N1,451.82 per dollar on Monday, a gain of N2.59 from the N1,454.41 recorded on Friday. This modest rise indicates a slight improvement in the naira’s value at the official market.
In contrast, the black‑market rate showed a marginal decline, slipping to N1,493 per dollar on Monday from N1,495 on Friday. The appreciation in the official market comes amid an upward trend in Nigeria’s foreign reserves, which stood at $45.47 billion as of 12 December 2025. A stronger reserve position can help bolster a country’s currency, and the increase in reserves may have contributed to the naira’s gain.
The naira’s performance against the dollar has been closely watched, as the currency has experienced notable fluctuations. Last week, the naira appreciated only once against the dollar, underscoring the volatility of Nigeria’s foreign‑exchange market. The Central Bank of Nigeria has been working to stabilize the market and maintain a steady supply of dollars to meet demand. These efforts, combined with the rise in foreign reserves, could support the naira’s value in the coming weeks.
As the Nigerian economy evolves, the naira’s performance against major currencies like the U.S. dollar will remain a key focus. The foreign‑exchange market is closely tied to overall economic health, and significant changes in the naira’s value can have far‑reaching implications for trade, investment, and economic growth.
Comments are closed for this story.