The Naira recorded its first depreciation in more than a week, closing at N1,469/$1 on Friday, October 3, 2025.
If you exchanged your Naira for USD in September 2024 and held it, the $1, when converted back to Naira, would be worth 11.12% less; The Naira has strengthened.
The naira settled at N1,455/$ at the Nigerian foreign exchange market, continuing the positive rally of the Nigerian currency against the American dollar.
The local currency is projected to stabilize within the range of N1,450/$- N1,550/$, although there could be a negative swing if the price of oil falls below $70 a barrel.
The Nigerian naira appreciated against the U.S dollar by about 1.2% over the past week, moving from N1,519/$ to N1,497/$ as the Nigerian Apex Bank will meet to decide on the country’s headline interest rate.
The naira experienced a significant rebound this week across both the official and parallel foreign exchange (FX) markets.
The naira is making steady progress in the foreign exchange market, appreciating toward a key monthly support level at N1,440 as it benefits from broad dollar weakness.
The Nigerian currency maintained upside against the American dollar as the United States Central Bank makes an important interest decision later today
The Nigerian naira surged to a five-month high of N1,497.5/$ at the first trading session of the week in the official market., supported by better foreign exchange (FX) liquidity and less demand pressure.
The Nigerian Naira posted its biggest one-day gain against the dollar in 2025 at the official foreign exchange market on Thursday, ahead of Friday's public holiday to commemorate Eid-ul-Mawlid, the birth of the Holy Prophet Muhammad.
The Naira recorded a stronger performance across both the parallel and official foreign exchange markets in the first week of September 2025, extending gains seen at the tail end of August.
The Naira settled at N1,550 against the U.S dollar; at the unofficial market from N1,550/$ Settlement price on Sunday while the greenback remained at elevated levels in the global foreign exchange market.
