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The Naira strengthened against the United States Dollar on a week-on-week basis, gaining ₦14.98 (1.02 percent) at the official foreign exchange market.
According to data from the Central Bank of Nigeria (CBN), the Naira closed at ₦1,465.68 per dollar on Friday, compared to ₦1,480.66 recorded the previous week.
In the parallel (black) market, the local currency also appreciated, trading at ₦1,485 per dollar — a gain of ₦10 from ₦1,495 on September 27, 2025.
This indicates that despite brief intra-day fluctuations, the Naira maintained a stronger position on a week-on-week basis across both official and parallel markets.
Analysts attribute the improvement partly to the rise in Nigeria’s external reserves, which climbed to $42.40 billion as of October 2, 2025, up from $42.26 billion recorded on September 26. This represents a 0.33 per cent increase within the week, signalling improved foreign exchange stability and investor confidence.
