Naira Closes Week on Positive Note, Gains Against Dollar in Official Market

The Nigerian naira continued its recent trend of appreciation against the United States dollar on Friday in the official foreign exchange market, successfully ending the week on a positive note.

Dependable NG reports that data sourced from the Central Bank of Nigeria (CBN) confirmed that the naira strengthened slightly further to trade at N1,436.58 against the dollar on Friday, showing a gain compared to the N1,436.74 recorded on Thursday. This slight appreciation means the country’s currency gained N0.16 against the dollar on a day-to-day basis within the official market.

However, the naira’s performance for the entire week in the official market showed a significant dip, having dropped by N14.85 when compared to the rate of N1,421.73 recorded on the preceding Friday.

Meanwhile, in the black market, the naira remained relatively flat, trading at N1,445 per dollar on Friday, the same rate that was maintained on Thursday. This stabilization was confirmed by Abubakar Alhasan, a Bureau De Change operator in Wuse Zone 4, Abuja.

The recent minor gains in the official market come alongside an ongoing rise in the country’s external reserves, which stood at $43.32 billion as of Thursday, November 6, 2025. This strengthening of the external buffers is often seen as a key factor supporting the local currency and helping to stabilize the foreign exchange market.