Business
Naira Hits Highest Appreciation Against US Dollar in Months Amid Rising Reserves
The Nigerian Naira has recorded its strongest gain against the US dollar in months, supported by a steady rise in the country’s external reserves.
Data from the Central Bank of Nigeria (CBN) showed that the Naira strengthened to ₦1,484.14 per dollar on Tuesday, up from ₦1,497.47 on Monday. This represents a single-day gain of ₦13.33, marking the highest appreciation this week and the strongest performance since February 2025.
At the parallel market, however, the Naira remained stable at ₦1,537 per dollar, unchanged from the previous day.
The surge in the official exchange rate is linked to the continued growth in Nigeria’s external reserves, which rose to $41.84 billion as of 15th September 2025, up from $41.70 billion on 12th September, according to CBN figures.
Analysts suggest that the strengthening Naira at the official market reflects improving foreign exchange inflows and greater stability in Nigeria’s external accounts.
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