Business
Naira Strengthens for Third Consecutive Day as Reserves Hit $43.11 Billion
The Naira continued its upward trend against the United States dollar on Wednesday, marking three consecutive days of appreciation at the official foreign exchange market. Data from the Central Bank of Nigeria (CBN) showed that the Naira closed at ₦1,444.42 per dollar, strengthening from ₦1,448.21 recorded on Tuesday. This represents a daily gain of ₦3.78.
The local currency’s improvement comes as Nigeria’s external reserves climbed to $43.11 billion as of Tuesday, October 28, 2025 — a notable increase reflecting rising foreign inflows and improved market confidence.
However, activity in the parallel market remained stable, with Bureau De Change operators in Wuse Zone 4, Abuja, quoting the Naira between ₦1,485 and ₦1,495 per dollar.
Over the past three trading days, the Naira has appreciated by ₦13.53 compared to the ₦1,457.96 per dollar rate recorded on Friday, October 24, 2025. The sustained strengthening of the currency and the steady rise in external reserves signal a positive outlook for the foreign exchange market.
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