The naira closed the week stronger against the United States dollar at the

official foreign exchange market, marking its fifth straight day of appreciation.

According to data from the Central Bank of Nigeria (CBN), the naira appreciated to ₦1,457.96 per dollar on Friday, up from ₦1,460.49 traded the previous day — a gain of ₦2.53.

The local currency’s steady rebound last week represented its best performance since Monday, October 20, when it recorded the highest daily gain in recent sessions.

Meanwhile, the parallel market rate remained unchanged at ₦1,500 per dollar throughout the week, maintaining stability across informal trading platforms.

The development coincided with a continued rise in Nigeria’s external reserves, which climbed to $42.87 billion as of October 22, 2025, reflecting improved foreign inflows and oil receipts.

Analysts attributed the development to growing confidence in the market, driven by ongoing foreign exchange reforms and increased dollar liquidity.