The naira appreciated massively against the United States dollar across official and parallel foreign exchange markets to end the week on a good note.
The Central Bank of Nigeria’s data showed that the naira
strengthened to N1,487.90 against the dollar on Friday, up from N1,498.98 on
Thursday.
This means that the Naira firmed up against the dollar at
the official market by N11.08 on a day-to-day basis.
At the black market, the naira appreciated by N15 to N1,522
on Friday per dollar from N1,537 on Thursday.
The development showed that the Naira gained against foreign
exchange currencies across FX markets on Friday. This is a major boost from
Wednesday and Thursday’s downtrend the naira experienced.
The Naira gained N3.9 on a week-on-week basis when compared
to N1,501.50 traded last week Friday.
This comes as the apex bank data showed that the country’s
external reserves had continued its rise and stood at $41.99 billion as of
September 18, 2025.
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