Business
Naira Gains Against Dollar as Nigeria’s Foreign Reserves Hit Seven-Year High
The Naira recorded its first appreciation against the US dollar at the official foreign exchange market on Tuesday, strengthening to N1,447.43 per dollar from N1,448.03 on Monday, marking a daily gain of N0.6.
At the black market, however, the Naira remained steady at N1,465 per dollar, unchanged from the previous day.
Data from the Central Bank of Nigeria (CBN) showed that the country’s foreign reserves rose to $43.97 billion as of November 17, 2025. Earlier, CBN Governor Olayemi Cardoso noted that foreign reserves had reached a seven-year high of $46.7 billion as of November 14, signaling a boost in the nation’s external liquidity.
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