Naira Bounces Back, Gains Against Dollar

September 7, 2025

Naira Bounces Back, Gains Against Dollar. Credit: Business Day

The naira regained strength against the dollar at the official foreign exchange market on Wednesday after two consecutive days of depreciation.

Data from the Central Bank of Nigeria (CBN) showed that the currency appreciated slightly to N1,537.07 per dollar, compared to N1,537.61 on Tuesday. This reflects a marginal gain of N0.54 on a day-to-day basis.

At the parallel market, however, the naira remained unchanged at N1,548 per dollar on Wednesday, the same rate recorded on Tuesday, according to a Bureau de Change operator in Wuse Zone 4.

The development coincided with a rise in the nation’s external reserves, which increased to $41.22 billion on Tuesday from $41.19 billion on Monday, based on CBN figures.

Earlier in the week, the naira had weakened to N1,536.42 on Monday and N1,537.61 on Tuesday at the official window.

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Abdulateef Ahmed

Abdulateef Ahmed, Digital News Editor and; Research Lead, is a self-driven researcher with exceptional editorial skills. He's a literary bon vivant keenly interested in green energy, food systems, mining, macroeconomics, big data, African political economy, and aviation..