The Naira opened the trading week almost static on Monday, trading at N1,532.54 to the U.S. Dollar at the official market.
According to data released from the official website of the Central Bank of Nigeria (CBN), Naira lost 20 kobo against the Dollar.
This represents a 0.01 per cent loss when compared to the previous trading figure of N1,532.34 per dollar recorded at the close of trading on Friday.
The Naira closed the trading week bullish on Friday, trading at N1,532.34 to the U.S. dollar at the official market.
According to data released on the Central Bank of Nigeria’s official website, Naira gained 77 kobo against the dollar.
This represents a 0.05 per cent gain when compared to the trading figure of N1,533.11 per dollar recorded at the close of trading on Thursday.
The local currency which recorded steady appreciation the previous week, also opened the new trading week on Monday, July 14, 2025 with an N11.37 gain against the dollar.
However, Nigeria went into national mourning following the death of former President Muhammadu Buhari on Sunday, July 13, 2025 at a hospital in London at the age of 82.
President Bola Tinubu declared seven days national mourning and a public holiday on Tuesday in honour of the late former President.
Buhari was laid to rest on Tuesday in his hometown, Daura in Katsina State.
After resumption from the public holiday on Wednesday, the Naira slumped recording a loss of N11.36.
On Thursday the local currency further slumped losing N2.85 before making a slight recovery of 77 kobo on Friday.
The Naira on Friday experienced a slight depreciation at the official market, trading at N1,528.56 to a Dollar.
Data obtained from the website of the Central Bank of Nigeria (CBN) showed that the Naira lost N2.73.
This represents a 0.17 per cent loss when compared to N1,525.82 recorded on Thursday.
The Naira, which opened the week on Monday with a gain of N9.52 against the dollar, held steady gains until Thursday.
On Wednesday, the local currency gained N3.42 against the dollar and received commendation from the International Monetary Fund (IMF).
The IMF, in its 2025 Article IV Consultation report on Nigeria, commended the CBN over its foreign exchange market reforms that supported price discovery and liquidity.
The Naira on Wednesday gained N3.42 against the dollar, trading N1526.15 at the official market amid commendation by the International Monetary Fund (IMF).
Data obtained from the website of the Central Bank of Nigeria (CBN) showed that the Naira appreciated by 0.22 per cent.
The local currency traded on Tuesday at N1,529.57 to a dollar.
Meanwhile, the IMF in its 2025 Article IV Consultation report on Nigeria, has praised CBN on its reforms on foreign exchange (forex) market, which supported price discovery and liquidity.
IMF said the reforms to the forex market and foreign exchange interventions (FXIs) had brought stability to the Naira.
It explained CBN’s measures had curbed forex volatility and improved transparency and market integrity.
The Naira on Friday appreciated at the official market, trading at N1,547.36 to a dollar.
Data obtained from the website of the Central Bank of Nigeria (CBN) showed that the Naira gained N2.05.
This represents a 0.13 per cent gain when compared with Thursday when the local currency traded at N1,549.41 to a dollar.
The Naira, which opened the week with a 0.3 per cent gain on Monday, when it traded at N1,544.62, closed the trading week stronger again on Friday.
The Naira recorded slight depreciation by 0.04 per cent on Tuesday when it traded at N1,545.26 against the dollar.
However, the local currency remained almost static on Wednesday and Thursday, trading at N1,549.20 and N1,549.41 respectively, representing a minute loss of 0.01 per cent.
The Naira further appreciated on Thursday, trading at N1,553.11 against the Dollar in the official foreign exchange market.
Data from the Central Bank of Nigeria showed the Naira gained N12.35, representing a 0.79 per cent appreciation when compared to Wednesday’s trading at N1,565.46 per Dollar.
The Naira has been on a steady appreciation, trading at N1,579.27 on Tuesday and N1,581.58 against the Dollar on Monday.
The Naira, which also closed the previous week bullish, opened the new week with a gain of N4.56.
These steady gains were recorded even as the recapitalisation for Bureau De Change Operators (BDCs) began on June 3.
The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market.
Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone.
This marks a 0.28 per cent appreciation from Thursday’s closing rate of ₦1,584.95 in the official foreign exchange window.
The local currency maintained consistent strength throughout the week, recording gains daily.
On Monday, May 19, it traded at ₦1,598.68; on Tuesday, at ₦1,590.45; and on Wednesday, at ₦1,584.49.
These gains suggest increased investor confidence and improved forex supply, contributing to the naira’s performance.
Meanwhile, the CBN, at its 300th Monetary Policy Committee meeting held Monday and Tuesday, retained the Monetary Policy Rate at 27.5 per cent.
The Naira ended the trading week on a positive note, recording a bullish close on Friday at the official foreign exchange market.
It appreciated to N1,598.72 against the U.S. Dollar, reflecting a modest gain that suggests continued efforts to stabilise the local currency.
According to figures published on the Central Bank of Nigeria’s official website, the Naira strengthened by N0.60k against the Dollar on Friday.
This upward movement represents a 0.03 per cent appreciation compared to the N1,599.32 exchange rate recorded at the close of trading on Thursday.
The local currency had shown some resilience earlier in the week, posting gains on both Tuesday and Wednesday trading sessions.
On Tuesday, the Naira appreciated by 0.02 per cent, followed by a stronger gain of 0.21 per cent on Wednesday.
These improvements were seen as positive indicators of growing investor confidence and increased supply in the foreign exchange market.
However, Thursday’s trading session saw a minor setback, with the Naira slipping by N2.62 against the Dollar.
This loss equated to a 0.16 per cent depreciation, dampening the midweek rally seen in previous sessions.
Market analysts attributed Thursday’s dip to a brief increase in Dollar demand from importers and other market participants.
In spite of this, the week still closed on a positive note, with the Naira showing signs of gradual recovery and increased market stability.
Analysts continue to monitor the Central Bank’s policies, especially interventions aimed at improving Dollar liquidity and managing demand pressures.
The Naira’s performance in the coming weeks will likely depend on consistent supply inflows and investor sentiment across the broader economic landscape.
The Naira continued its upward trend on Wednesday, appreciating further at the official market and closing at N1,596.70 to the U.S. dollar.
According to data released on the Central Bank of Nigeria’s official website, the local currency gained N3.33 against the dollar.
This improvement represents a 0.21 per cent appreciation compared to the rate of N1,600.03 per dollar recorded at the close of trading on Tuesday.
The Naira had already shown signs of resilience earlier in the week, gaining 0.02 per cent on Tuesday against the dollar.
Analysts attribute the recent strengthening of the Naira to improved foreign exchange liquidity and sustained interventions by CBN.
Market observers also note that increased confidence in monetary policy reforms may be contributing to the currency’s steady performance in recent days.
In spite of ongoing economic challenges, the recent movements suggest cautious optimism among traders and investors watching the foreign exchange market.
The Naira’s performance this week is being closely monitored as the country continues efforts to stabilise its economy and attract foreign investment.
The Naira appreciated on Monday at the official market, trading at N1,600.44 to a dollar.
Data from the Central Bank of Nigeria (CBN) Website showed that the Naira gained N5.71.
This represents a 0.35 per cent gain when compared to N1606.15 per dollar recorded on Friday, May 9, 2025.
The Naira, which slumped in the early part of the previous week, ended the week on a positive note with a N3.48 gain on Friday.
The local currency traded on Thursday, May 8, 2025 at N1,609.64 to the dollar.