Data from the Central Bank of Nigeria (CBN) indicated that the local currency gained ₦5.27 during Friday’s trading session, marking a 0.3% increase compared with Thursday’s closing rate of ₦1,371.50.
The Naira recorded steady gains throughout the week, supported by sustained market activity and increased foreign exchange supply. At the start of trading on Monday, the Naira exchanged at ₦1,405.62 to the dollar, strengthening gradually to ₦1,401.40 on Tuesday and ₦1,376.19 by Wednesday.
Market analysts noted that the gradual appreciation signals improving stability in the official foreign exchange market, reflecting stronger liquidity conditions and market confidence in the domestic currency.
The CBN’s interventions and policies aimed at stabilizing the foreign exchange market continue to play a key role in supporting the Naira’s performance amid evolving economic conditions