Nigerian Naira records fifth consecutive appreciation against US dollar

The naira extended its winning streak against the United States dollar on Friday, recording its fifth consecutive appreciation at the official foreign exchange market and closing the week on a strong footing.

According to official data from the Central Bank of Nigeria (CBN), the local currency appreciated to ₦1,457.96 per dollar on Friday, compared to ₦1,460.49 recorded the previous day. This represents a day-on-day gain of ₦2.53.

Checks by DAILY POST indicate that this marks the fifth straight session of appreciation for the naira this week, with the strongest performance recorded on Monday, October 20, 2025.

At the parallel (black) market, however, the naira traded relatively flat throughout the week, maintaining an average rate of ₦1,500 per dollar from Monday to Friday.

Analysts attribute the naira’s recent stability to improved liquidity in the foreign exchange market, following ongoing reforms by the CBN aimed at boosting supply and restoring investor confidence.

The positive momentum also coincides with an increase in Nigeria’s external reserves, which continued their upward trend, rising to $42.87 billion as of October 22, 2025, according to CBN data.

Market watchers say the steady build-up in reserves and sustained moderation in demand pressures suggest a gradual strengthening of the naira’s position in the coming weeks, provided policy consistency and transparency in the FX market are maintained.