Market News
Naira strengthens across official, black markets as reserves climb - DAILY POST
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The naira appreciated strongly on Monday at both the official and parallel foreign exchange markets, opening the new week on a positive note.
Data from the Central Bank of Nigeria showed that the naira gained significantly, closing at N1,506.84 per dollar on Monday, compared to N1,514.87 on Friday.
This indicates that the currency strengthened by N8.03 against the dollar on Monday, marking a higher gain than recorded at the official market on Thursday.
Similarly, at the black market, the naira firmed up by N9 to close at N1,530 per dollar on Monday, compared to N1,539 at the close of last week.
The development suggests that the naira is maintaining momentum against other foreign currencies at the official market.
Meanwhile, Nigeria’s external reserves continued to rise, reaching $41.54 billion on September 4, 2025, up from $41.49 billion reported on the Central Bank’s website the previous day.
