The Naira has continued its appreciation streak against the dollar at the official foreign exchange market on Tuesday as Nigeria’s external reserves swell.
According to the Central Bank of Nigeria’s exchange data, the Nigerian currency appreciated further to N1,506.09 on Tuesday, a slight gain from the N1,506.84 traded on Monday.
This means that the naira marginally strengthened by N0.75 against the dollar on a day-to-day basis.
Meanwhile, at the black market, the Naira remained at N1,530 per dollar on Tuesday, the same exchange rate as on Monday.
This comes as the country’s external reserves swelled to $41.57 billion on Monday, 8th September 2025, up from 41.54 last week, September 4th.
On Tuesday, CBN governor Olayemi Cardoso at the 18th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) said Nigeria targets $1 billion in diaspora reserves by 2026.
Nigerian Newssphere recall that the Naira has continued rise for the better part of August to date.
