Business
Naira Records First Gain Against Dollar This Week at Official Market
The Naira appreciated for the first time this week against the United States dollar in the official foreign exchange market on Wednesday, according to data from the Central Bank of Nigeria.
The local currency strengthened to ₦1,470.62 per dollar, compared to ₦1,471.09 recorded on Tuesday, representing a day-on-day gain of ₦0.47. This marks the Naira’s first positive movement after two consecutive days of depreciation at the official window on Monday and Tuesday.
At the parallel market, however, the exchange rate remained unchanged at ₦1,500 per dollar, the same level recorded on Tuesday.
Central Bank data also showed that Nigeria’s external reserves stood at $42.57 billion as of October 7, 2025, a key indicator often linked to foreign exchange stability.
The slight appreciation reflects a modest recovery in the official market amid ongoing efforts to stabilize the currency and manage liquidity pressures.
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