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Naira continues appreciation against US dollar as external reserves sustain rise - DAILY POST
The naira continued its appreciation against the United States dollar at the official foreign exchange market on Thursday, amid a sustained rise in Nigeria’s external reserves.
Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened to N1,460.49 per dollar on Thursday, up from N1,463.44 recorded on Wednesday.
This indicates that the naira gained N2.95 against the dollar on a day-to-day basis.
The uptrend in the nation’s currency marks the fourth consecutive gain this week.
Meanwhile, at the black market, the naira remained flat at N1,500 per dollar on Thursday, the same exchange rate as on Wednesday.
This development comes as Nigeria’s external reserves continued to rise, standing at $42.87 billion as of October 22, 2025, up from $42.79 billion on October 20, according to CBN data.
Recall that the naira had recorded three straight appreciations against the dollar at the official exchange market on Wednesday.
