Table of Contents
- Naira's Performance Against the Dollar
- Official Market Overview
- Black Market Insights
- External Reserves Growth
The Naira experienced a rise of N14.98 or 1.02 percent against the United States Dollar on a week-on-week basis at the official foreign exchange market.
As of Friday, the Naira closed at N1,465.68 per dollar in the official market, an improvement from N1,480.66 traded the previous Friday, according to the Central Bank of Nigeria's official data.
In the black market, the Naira appreciated by N10 against the dollar on a week-to-week comparison, closing at N1,485 on September 27, 2025.
This trend indicates that, despite daily fluctuations against the dollar on Friday, the currency strengthened on a week-to-week basis in both the official and parallel foreign exchange markets.
The Naira's upward movement against the dollar is closely linked to Nigeria’s ongoing increase in external reserves, which reached $42.40 billion as of October 2, 2025, up from $42.26 billion recorded on September 26.
This signifies a growth of 0.33 percent in the country’s external reserves on a week-to-week basis.
Frequently Asked Questions
What caused the Naira's appreciation against the dollar?
The Naira's appreciation against the dollar is attributed to Nigeria's increase in external reserves, which rose to $42.40 billion.
How much did the Naira strengthen in the black market?
In the black market, the Naira strengthened by N10, closing at N1,485 on September 27, 2025.
What is the current status of Nigeria's external reserves?
As of October 2, 2025, Nigeria's external reserves stood at $42.40 billion, showing a growth of 0.33 percent from the previous week.
