Business
Naira Sustains Strong Gains Against Dollar Across Markets
The naira extended its winning streak against the United States dollar last week, recording steady appreciation in both the official and parallel foreign exchange markets.
According to data from the Central Bank of Nigeria (CBN), the local currency closed at N1,480.66 per dollar on Friday, strengthening from N1,488.26 on Thursday. This marks a day-on-day gain of N7.6 at the official window.
In the parallel market, the naira also firmed, trading at N1,495 per dollar on Friday, compared to N1,497 the previous day. The most notable improvement came mid-week on Wednesday, when the currency surged sharply in the black market.
On a weekly basis, the naira advanced by N7.24 at the official window and by N27 in the parallel market.
The currency’s upward momentum coincided with a boost in Nigeria’s external reserves, which climbed 0.45 per cent to $42.22 billion as of Thursday, September 25, 2025, up from $42.03 billion recorded the previous Friday.
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