Market News
Naira continues appreciation against dollar to end week on good note - DAILY POST
The naira has continued appreciation against the dollar at the official foreign exchange market to end the week on a bullish note.
The Central Bank of Nigeria’s exchange data showed that the naira firmed up slightly to N1,535.04 against the dollar on Friday from N1,535.78 on Thursday.
This showed that the naira sustained appreciation at the official foreign exchange market with a N0.74 gain on a day-to-day basis.
However, at the black market, the naira remained flat at N1,550 on Friday, the same rate recorded the previous day.
A week-on-week analysis of the performance of Nigeria’s currency showed that the naira lost N2.53, or 0.17 percent, at the official market when compared to N1,532.51 traded on 15th August 2025. But the naira appreciated by N10, or 0.65 percent, at the black market to N1,550 per dollar this Friday, up from N1,560 last week Friday.
The development comes as the country’s external reserves continued to surge and stood at $41.08 billion as of August 21, 2025, according to CBN data.
