Naira Records Significant Gains Against Dollar in Official and Black Markets

The Nigerian naira began the week on a positive trajectory on Monday, October 27, 2025, recording a notable appreciation against the United States dollar in both the official and parallel foreign exchange markets.

The local currency gained ground in the black market, strengthening to ₦1,485 per US dollar, according to Abubakar Alhasan, a Bureau De Change (BDC) operator in Wuse Zone 4, Abuja. This figure is an appreciation of ₦15 compared to the rate of ₦1,500 recorded on the previous trading Friday, October 25, 2025.

Dependable NG reports that the positive movement was mirrored in the official market, where data from the Central Bank of Nigeria (CBN) confirmed that the naira appreciated by ₦5.16. The official exchange rate closed on Monday at ₦1,452.79 to the dollar, improving from the ₦1,457.96 recorded at the close of last week’s trading session.

This consistent performance marks a positive trend for the naira, which had reportedly recorded its fifth consecutive day of appreciation against the dollar in the official market last week. The sustained gains suggest increasing market confidence or effective intervention measures by the CBN.