The naira recorded a strong appreciation against the US dollar in the parallel foreign exchange market on Monday following the Christmas holidays.
A Bureau De Change operator in Wuse Zone 4, Abuja, Abubakar Hassan, said the local currency traded at ₦1,475 per dollar on Monday, improving from ₦1,490 per dollar before the Christmas break.
According to him, the appreciation was driven by a decline in dollar demand during the holiday period.
The movement represents a ₦15 gain for the naira against the US dollar in the parallel market.
Similarly, data from the Central Bank of Nigeria (CBN) showed that the naira also strengthened at the official market, exchanging at ₦1,442.51 per dollar on Monday, compared with ₦1,443.38 per dollar recorded on Wednesday, December 24, 2025. This reflects a ₦0.87 appreciation at the official window.
The currency’s improvement comes amid positive macroeconomic indicators, as Nigeria’s external reserves increased by 7.28 per cent month-on-month, providing additional support for the naira.
