Market News
Naira appreciates below N1,500 against dollar first time in seven months - DAILY POST
The Naira on Monday appreciated to below N1,500 per dollar at the official foreign exchange market for the first time since February 2025.
The Central Bank of Nigeria’s data showed that the Naira gained to N1,497.5 per dollar on Monday, up from N1,501.5 exchanged last week Friday.
This means that the Naira gained significantly at N4.03 against the dollar when compared to N1,501.5 traded at the close of work last week.
Meanwhile, the Naira remained stable at N1,537 per dollar at the black market on Monday, the same rate as last weekend.
DAILY POST reports that the last time the Naira strengthened below N1,500 at the official market was February 2025.
The uptrend in Naira comes at a time when Nigeria’s external reserves had continued to experience a surge to $41.70 billion as of 12th September, 2025.
