The Naira has obtained a significant gain against the US dollar, appreciating below N1,500 per dollar in the official currency market for the first time since February 2025.
According to the data of the Central Bank of Nigeria (CBN), La Naira quoted N1,497.5 per dollar on Monday, a remarkable increase of N1,501.5 per dollar last week in Friday, which represents a gain of N4.03 against the dollar.
This development occurs as Nigeria’s external reserves continue to increase, reaching $ 41,70 billion as of September 12, 2025.
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Naira’s appreciation is considered a positive trend for the country’s economy.
In contrast, the Naira remained stable at N1,537 per dollar in the black market on Monday, the same rate as last weekend.
This stability in the black market rate suggests a potential change towards a more unified exchange rate regime.
The last time the Naira was strengthened below N1,500 in the official market was February 2025, which makes this recent appreciation a significant milestone for the currency.
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