The Naira on Thursday recorded its first appreciation against the United States dollar at the official foreign exchange market in nearly a week.
Figures from the Central Bank of Nigeria (CBN) show that the local currency strengthened to N1,535.78/$1 from N1,536.73/$1 traded the previous day. This represents a marginal gain of N0.95 or 0.062 percent on a day-to-day basis.
At the parallel (black) market, however, the Naira traded steady at N1,550/$1, maintaining the same rate as Wednesday.
The development coincides with a further rise in Nigeria’s external reserves, which climbed to $41.05 billion as of Wednesday, August 20, 2025. This marks an increase from $38.25 billion recorded on July 21, 2025.
Thursday’s appreciation ends a losing streak that saw the Naira depreciate for three consecutive trading sessions earlier in the week.
