Nigeria’s naira appreciated against the U.S. dollar on Monday, extending gains in the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) showed the currency closed at ₦1,476.35 per dollar, compared to ₦1,480.66 on Friday. This represents a ₦4.31 gain over the previous session.
In the parallel market, the naira traded flat at ₦1,495 per dollar, maintaining the same rate as last week.
Analysts attribute the currency’s relative stability to improved external reserves, which climbed to $42.26 billion as of September 26, 2025.
The CBN has been under pressure to stabilize the naira amid fluctuations in demand for foreign exchange, and the recent uptick in reserves is seen as providing stronger support for the currency.
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