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The naira wrapped up the week on a promising high, marking its fifth consecutive rise against the US dollar in the official foreign exchange market. Confidence appears to be creeping back into the currency, even if cautiously.
Fresh figures from the Central Bank of Nigeria revealed that the naira closed on Friday at N1,457.96 to the dollar, slightly stronger than Thursday’s N1,460.49 rate. A modest gain of N2.53 in a single day, yes, though symbolic of a steady swing in the right direction.
The naira kept improving throughout the week. Each day saw a small gain, with the biggest rise on Monday, 20 October 2025. It was a calm but important run of progress in a market that is often unstable.
Meanwhile, away from the official windows, the parallel market barely flinched. Traders held their ground at around N1,500 per dollar from Monday through Friday, unmoved by the shifts elsewhere.
This comes as Nigeria’s external reserves kept building, climbing to $42.87 billion as of 22 October 2025. That upward glide, paired with the naira’s strengthening, sparks a flicker of optimism about stability returning, or at least attempting a comeback.
