The Naira has continued its steady appreciation streak in October, strengthening to N1427.5 per dollar at the close of trading on Friday, October 31, 2025.

This is according to data published on the Central Bank of Nigeria (CBN) website.

The data showed that the performance marked the second consecutive week of gains, as the currency appreciated from N1452.5/$1 on Monday to N1427.5/$1 on Friday, reflecting a sustained rally driven by improved market confidence and increased foreign exchange liquidity.

During the week, the Naira traded at N1447/$1 on Tuesday, N1445/$1 on Wednesday, and N1431/$1 on Thursday, maintaining a consistent upward trajectory throughout the five-day trading window.

The last recorded depreciation was on October 15, 2025, further highlighting the ongoing positive trend.

On a week-on-week basis, the Naira strengthened by 1.9 percent, closing at N1427.5/$1 compared to N1455/$1 the previous week.

This improvement also represents a notable rebound from N1461/$1 recorded two weeks earlier.

Market analysts attribute the currency’s improved performance to increased dollar inflows, enhanced CBN liquidity interventions, and stabilizing investor confidence in the government’s ongoing monetary reforms.

Foreign reserves hit $43.17 billion

Complementing the Naira’s appreciation, Nigeria’s foreign reserves climbed to $43.17 billion, up from $42.8 billion recorded the previous week.

This represents one of the strongest reserve positions seen in months and underscores the CBN’s prudent management and the success of ongoing reforms.

The steady rise in reserves, according to financial experts, reflects a combination of enhanced dollar inflows, rising oil revenues, increased diaspora remittances, and improved investor confidence following Nigeria’s recent removal from the Financial Action Task Force (FATF) grey list.