Naira Sustains Momentum, Ends Week with Fifth Consecutive Gain Against US Dollar

Nigeria’s national currency, the Naira, closed the trading week on an exceptionally strong footing, recording its fifth straight day of appreciation against the United States Dollar in the official foreign exchange market.

The positive streak marks a notable turnaround for the currency. Dependable NG reports that according to data released by the Central Bank of Nigeria (CBN), the Naira strengthened significantly on Friday, October 24, 2025, closing at N1,457.96 per dollar. This is an improvement from its closing rate of N1,460.49 recorded on Thursday, representing a gain of N2.53 in a single trading day. This consecutive daily appreciation throughout the week underscores a renewed stability and confidence in the official Forex market. The biggest appreciation during this impressive run was noted earlier in the week, on Monday, October 20, 2025.

In contrast to the official market’s volatility, the local currency maintained a steady position in the parallel (black) market throughout the week, holding flat at N1,500 per dollar from Monday to Friday.

This consistent official market performance aligns with the sustained upward trajectory of the country’s external financial buffers. As of October 22, 2025, Nigeria’s external reserves climbed to a robust $42.87 billion, demonstrating the growing strength of the nation’s foreign exchange position. This substantial rise in reserves is a key factor supporting the recent appreciation of the Naira, signaling improved liquidity and reduced pressure on the official market.