Nigeria’s currency, the Naira, continued its upward momentum last week, marking a significant milestone in its recovery against the U.S. dollar. During the week ending October 10, 2025, the naira appreciated by 0.72% at the official foreign exchange market, closing at ₦1,455.17 per dollar, according to data from the Central Bank of Nigeria (CBN).

This marks the strongest performance of the naira since December 2024, signaling renewed confidence in Nigeria’s currency. Similarly, in the parallel market, the naira strengthened by 0.88%, closing at ₦1,475 per dollar, supported by better liquidity conditions.

Experts attribute the naira’s sustained gains to increased diaspora remittances, foreign portfolio inflows, and a rise in oil revenue. Nigeria’s external reserves also climbed to $42.57 billion, boosted by oil proceeds, remittance inflows, and foreign investments.

Analysts believe this steady growth in reserves enhances the CBN’s ability to stabilize the foreign exchange market and maintain short- to medium-term currency stability. The consistent improvement signals growing optimism about the country’s financial outlook.