Naira
By Kenny Taiwo
The naira has recorded its fifth straight appreciation against the US dollar, closing the week on a positive note. According to data from the Central Bank of Nigeria, the naira strengthened to ₦1,457.96 against the dollar, up from ₦1,460.49 traded on Thursday.
This represents a day-on-day gain of ₦2.53. The naira’s recent stability is attributed to improved liquidity in the foreign exchange market, following ongoing reforms by the Central Bank of Nigeria aimed at boosting supply and restoring investor confidence.
The positive momentum also coincides with an increase in Nigeria’s external reserves, which continued their upward trend, rising to $42.87 billion as of October 22, 2025. Market watchers say the steady build-up in reserves and sustained moderation in demand pressures suggest a gradual strengthening of the naira’s position in the coming weeks, provided policy consistency and transparency in the foreign exchange market are maintained.
At the black market, the naira remained flat at ₦1,500 per dollar from Monday to Friday this week. Analysts attribute the naira’s recent appreciation to the Central Bank of Nigeria’s efforts to stabilize the exchange rate and build up the country’s reserves. The growth in external reserves is a positive indicator of the country’s economic stability and its ability to manage its currency ¹ ².
