The Naira continued its upward trend at the official foreign exchange market on Wednesday, marking its third straight day of appreciation against the US dollar. This improvement comes as Nigeria’s foreign reserves climbed to $43.11 billion as of Tuesday, October 28, 2025, according to data from the Central Bank of Nigeria (CBN).

On Wednesday, the Naira closed at ₦1,444.42 per dollar, stronger than Tuesday’s rate of ₦1,448.2050. This shows a day-to-day gain of ₦3.78, signaling steady currency recovery in the official market. The recent rise is seen as part of a positive trend, with the currency gaining ₦13.53 in three days compared to ₦1,457.9571 recorded last Friday, October 24, 2025.

However, activity in the black market remained stable, with the currency trading between ₦1,485 and ₦1,495 per dollar in Wuse Zone 4, Abuja. Bureau De Change operators confirmed there was little movement in the parallel market despite improvements in the official window.

Analysts say the combination of strengthened reserves and consistent market interventions by the CBN is boosting confidence in the Naira. Many Nigerians are hopeful the local currency will continue to recover in the coming days.