The naira bounced back to appreciate against the dollar at the official foreign exchange market on Thursday as Nigeria’s external reserves continued to rise.
The Central Bank of Nigeria’s data showed that the Naira gained slightly at N1,533.73 against the dollar on Thursday from N1,534.44 traded on Wednesday.
This means that Nigeria’s currency marginally strengthened by N0.70 against the dollar on a day-to-day basis.
Meanwhile at the black market, the Naira remained flat at N1,565 on Thursday, the same exchange rate recorded the previous day.
The development follows the continued rise in the country’s external reserves, which stood at $39.99 billion as of 6th August 2025, up from $39.81 billion on the 4th of this month, CBN data showed.
DAILY POST reports that in the past four days, the Naira has recorded mixed sentiments of depreciation and appreciation against other currencies.
