The Nigerian Naira ended the week on a stronger note, appreciating to ₦1,455.5 per US dollar on Friday, according to official data from the Central Bank of Nigeria (CBN). This marks an improvement from Thursday’s closing rate of ₦1,461/$1, highlighting a continued trend of relative stability in the foreign exchange market.
Throughout the week, the local currency demonstrated resilience against the US dollar. On Wednesday, the Naira closed at ₦1,462/$1 — slightly stronger than the ₦1,464.5/$1 recorded on both Tuesday and Monday. The modest but steady gains reflect ongoing efforts by the monetary authorities to stabilize the exchange rate and strengthen investor confidence.
Analysts attribute the Naira’s improved performance to increased dollar liquidity in the market and continued interventions by the Central Bank aimed at maintaining exchange rate stability.
The steady appreciation comes as a positive sign for the economy, signaling growing confidence in Nigeria’s foreign exchange policies and gradual recovery in market dynamics.
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