The Nigerian currency wrapped up the week on a positive note as the Naira strengthened to N1,487.89 per Dollar at the official foreign exchange market on Friday.
Data from the Central Bank of Nigeria (CBN) showed that the currency appreciated by N11.08 or 0.7 percent compared to Thursday’s closing rate of N1,498.97.
The upbeat close came after a mixed week of trading. The Naira had started Monday with a gain of N4.03, but slipped slightly over the next three sessions, settling at N1,484.13 on Tuesday, N1,494.01 on Wednesday, and N1,498.97 on Thursday.
Despite the midweek dips, analysts welcomed the overall rebound, noting that the Naira’s resilience is being supported by ongoing CBN policy reforms designed to ease pressure on the foreign exchange market.
Reinforcing this optimism, members of the CBN’s Monetary Policy Committee (MPC) expressed confidence in further appreciation of the local currency in their individual submissions during the 301st MPC meeting in July 2025.
