The naira ended the week on a positive note, closing at ₦1,487.89 to the US dollar on Friday at the official foreign exchange market. Data from the Central Bank of Nigeria (CBN) showed the local currency gained ₦11.08 or 0.7 percent from Thursday’s closing rate of ₦1,498.97.
The week began with a bullish trend on Monday, when the naira appreciated by ₦4.03 against the dollar. However, slight fluctuations followed in midweek trading, as the currency exchanged at ₦1,484.13 on Tuesday, ₦1,494.01 on Wednesday, and ₦1,498.97 on Thursday before rebounding strongly to close the week higher.
Market analysts have linked the naira’s recovery to the CBN’s ongoing policy reforms designed to ease pressure on the foreign exchange market and stabilize the local currency. Many believe the measures are gradually restoring investor confidence and encouraging improved liquidity in the official window.
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Members of the CBN’s Monetary Policy Committee, in their personal statements during the 301st MPC meeting held in July 2025, projected that the naira would continue to appreciate if the current monetary strategies were sustained.
The performance of the naira in the past week has reinforced optimism that Nigeria’s currency may be entering a phase of gradual stabilization, with traders and investors closely watching the next moves from the apex bank.
