The naira recorded a marginal appreciation against the US dollar at the official foreign exchange market on Friday, closing the week on a positive note.
Data from the Central Bank of Nigeria (CBN) showed that the currency traded at N1,501.5 per dollar, stronger than the N1,502.13 posted on Thursday. The gain represents a slight improvement of N0.60 on a day-to-day basis.
However, the local currency weakened at the parallel market. Traders reported that the naira exchanged at N1,537 per dollar on Friday, compared with N1,530 the previous day.
On a weekly basis, the naira still posted gains despite fluctuations. Compared to last week Friday’s rate of N1,514.9, the currency appreciated by N13.4 at the official window.
The movement in the foreign exchange market coincides with a rise in Nigeria’s external reserves, which stood at $41.66 billion as of September 11, 2025, according to CBN data.
