MARKET NEWS
Naira appreciates against dollar as external reserves hit highest mark of $40.16bn - DAILY POST
The naira continued its appreciation against the dollar at the official market on Friday as the country’s external reserves rose to $40.16 billion as of August 7, 2025, the highest since July 2025.
The Central Bank of Nigeria’s official foreign exchange data showed that the naira slightly strengthened to N1,533.57 on Friday, up from N1,533.73.
Accordingly, this means the naira gained N0.16 marginally against the dollar on a day-to-day basis at the official foreign exchange market.
However, on the black market, the naira remained flat at N1,565 per dollar on Friday, the same FX rate as traded on Thursday.
The development comes as the country’s external reserves rose to $40.16 billion, the highest since July, when Central Bank of Nigeria Governor Olayemi Cardoso confirmed that the country’s external reserves had swelled to $40.11 billion, up from $39.99 billion as of August 6, 2025.
DAILY POST reports that, in the week under review, the naira recorded more gains than losses.
