NairaAppreciation: The Nigerian naira gains ₦1.8 against the US dollar, trading at ₦1,463.45/$1 at the official market as external reserves rise to $42.79 billion.
NairaAppreciation continued on Tuesday as the Nigerian currency gained more ground against the United States dollar at the official foreign exchange market.
According to data from the Central Bank of Nigeria (CBN), the naira appreciated to ₦1,463.45 per dollar on Tuesday, up from ₦1,465.29 recorded on Monday. This represents a ₦1.8 day-to-day gain at the official FX window.
At the black market, however, the naira remained stable, trading at ₦1,500 per dollar, the same rate as Monday.
The steady performance of the naira coincides with a rise in Nigeria’s external reserves, which climbed to $42.79 billion as of October 20, 2025, compared to $42.69 billion recorded on October 17, according to CBN data.
The week began on a positive note for the local currency, as the naira recorded a significant appreciation against the dollar on Monday, setting the tone for continued stability in the foreign exchange market.
