The Nigerian Naira recorded its third straight day of gains against the United States dollar on Wednesday, continuing its recent upward momentum at the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) showed that the Naira appreciated slightly to ₦1,463.44 per dollar on Wednesday, compared to ₦1,463.45 recorded the previous day.
This represents a marginal daily gain of ₦0.01.
However, in cumulative terms, the local currency has appreciated by ₦11.91 over the past three trading sessions when compared to the exchange rate of ₦1,475.35 recorded on Friday, October 17, 2025.
At the parallel (black) market, the Naira maintained stability at ₦1,500 per dollar on Wednesday — unchanged from Tuesday’s rate — according to currency trader Abubakar Alhasan, who spoke with newsmen.
Meanwhile, Nigeria’s external reserves stood at $42.79 billion as of October 20, 2025, reflecting a moderate rise in the country’s foreign assets position.
The sustained appreciation of the Naira this week follows recent monetary interventions by the CBN and increased forex inflows into the official market.
