MARKET NEWS
Naira Strengthens Against Dollar As Foreign Reserves Increase - NAN
The Naira closed the week on a positive note, gaining 4.52 kobo against the U.S. dollar at the foreign exchange market on Friday, Saturday Telegraph reports.
The development has been driven by a slight rise in Nigeria’s external reserves to $38.63 billion as of Thursday, July 24, 2025.
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According to the latest figures from the Central Bank of Nigeria, the Naira traded at N1,534.72 per dollar, compared to N1,534.79 on Thursday.
The figure represents a modest gain of 0.05 per cent on Thursday, when it was valued at N1,534.79 to the dollar.
However, the Naira had experienced minimal losses earlier in the week, trading at N1,535.62 on Wednesday and N1,535.24 on Tuesday.
The trading week began with a minor decline of 20 kobo on Monday.
NAN
