The Naira appreciated against the US dollar at the official foreign exchange market on Thursday, boosted by a steady rise in Nigeria’s external reserves.
According to the latest data from the Central Bank of Nigeria (CBN), the local currency closed at N1,436.74 per dollar on Thursday, improving from N1,438.49 recorded on Wednesday. This reflects a day-to-day gain of N1.76 at the official FX window.
In the parallel (black) market, the Naira also recorded gains, trading at N1,445/$1 compared to N1,450/$1 the previous day, as confirmed by currency dealers in Wuse Zone 4, Abuja.
This marks the second appreciation recorded by the Naira this week, following earlier fluctuations that saw mixed trading outcomes across the FX markets.
External Reserves Hit $43.28bn
Supporting the Naira’s improved performance, Nigeria’s external reserves have climbed to $43.28 billion as of November 4, 2025. Higher reserves typically strengthen confidence in the currency and improve the Central Bank’s ability to stabilize the market.
Market Trend So Far This Week
Two sessions of Naira gains
Two sessions of slight declines
Overall sentiment: mild recovery with cautious optimism
Analysts suggest that rising reserves, increased FX inflows, and moderated speculative demand are contributing to the Naira’s short-term stability.
