The naira continued its upward trend against the U.S. dollar at the official foreign exchange market on Thursday, supported by a sustained increase in Nigeria’s external reserves.
Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened to N1,460.49 per dollar, up from N1,463.44 recorded on Wednesday, marking a daily gain of N2.95. This represents the fourth consecutive daily gain for the nation’s currency this week.
At the black market, however, the naira remained unchanged at N1,500 per dollar, the same rate as Wednesday.
The currency’s resilience coincides with an increase in Nigeria’s external reserves, which stood at $42.87 billion as of October 22, 2025, up from $42.79 billion on October 20, according to CBN data.
This follows three consecutive days of naira appreciation at the official exchange market earlier in the week, reflecting growing stability in Nigeria’s foreign exchange dynamics.
