Naira to dollar
PicNews
The Naira has been appreciating against the US dollar, thanks to swelling external reserves. As of September 10, 2025, the Naira exchanged at N1,506.09, a slight gain from N1,506.84 the previous day, according to the Central Bank of Nigeria’s exchange data. This appreciation is also reflected in the parallel market, although the rate remained steady at N1,530 per dollar on Tuesday.
Nigeria’s external reserves swelled to $41.57 billion on September 8, 2025, up from $41.54 billion the previous week. This boost in reserves has strengthened the Naira. The Central Bank of Nigeria’s interventions in the foreign exchange market have contributed to improved market confidence and stability. Robust FX inflows from foreign portfolio investors and steady contributions from non-oil exports have supported the Naira’s value.
The ongoing economic reforms and CBN policies have enhanced investor confidence, driving the Naira’s appreciation. Analysts expect the Naira to remain relatively strong in the near term, supported by sustained inflows from foreign portfolio investors and steady contributions from non-oil exports. Some experts predict the Naira could end the year at N1,662 per dollar, citing robust CBN interventions and tight monetary policy.
The Naira’s appreciation is a welcome development for the Nigerian economy, which has been grappling with foreign exchange challenges. The stability in the forex market is expected to boost investor confidence and support economic growth. The CBN’s efforts to manage the foreign exchange market and maintain stability have been paying off, and the Naira’s appreciation is a testament to the effectiveness of these policies.
