Naira Appreciates Against US Dollar as Nigeria’s External Reserves Rise to $43.28 Billion
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Naira Appreciates Against US Dollar as Nigeria’s External Reserves Rise to $43.28 Billion |
The Naira gains strength against the US dollar at both official and black markets as Nigeria’s foreign reserves hit $43.28 billion, signaling improved forex stability.
Naira Strengthens for the Second Time This Week
The Naira appreciated against the US dollar on Thursday, marking its second consecutive gain this week at Nigeria’s official foreign exchange (FX) market.
According to data released by the Central Bank of Nigeria (CBN), the national currency strengthened to ₦1,436.74 per dollar, compared to ₦1,438.49 recorded on Wednesday.
This indicates a ₦1.76 gain day-on-day, reflecting gradual improvement in market confidence and forex liquidity.
You can verify official forex data through the CBN FX Market Portal.
Naira Firms at the Parallel Market
The local currency also appreciated at the black market, where it traded around ₦1,445 per US dollar on Thursday—up from ₦1,450 on Wednesday.
Several Bureau De Change (BDC) operators in Wuse Zone 4, Abuja, confirmed the upward trend, attributing it to increased forex inflows and a more stable demand for the dollar.
In the last four trading sessions this week, the Naira has shown mixed but positive momentum, closing with two gains and two mild losses, according to Daily Post Nigeria.
Nigeria’s External Reserves Climb to $43.28 Billion
In a related development, Nigeria’s external reserves have risen to $43.28 billion as of November 4, 2025, based on figures obtained from the Central Bank of Nigeria.
The growth in reserves—up from previous weeks—signals improved dollar inflows from oil exports, diaspora remittances, and foreign investment returns.
Economists suggest that the steady rise in reserves could help sustain FX interventions, reduce speculative pressure on the Naira, and stabilize the official exchange rate in the medium term.
Analysts Link Gains to Improved Liquidity and Policy Measures
Financial experts believe the Naira’s rebound is supported by recent monetary policy actions and foreign exchange reforms by the Central Bank.
Key Factors Driving Naira Appreciation
- Higher oil revenues and export earnings
- Increased diaspora remittances
- Reduced speculative trading in the parallel market
- CBN’s interventions to boost FX liquidity
According to market analysts, if the current trend continues, the Naira could strengthen further in the coming weeks, provided the CBN maintains forex supply consistency and inflation pressures remain contained.
For deeper insights into Nigeria’s monetary policy updates, visit the Central Bank’s Monetary Policy page.
Outlook: A Cautious Optimism for the Naira
While the Naira’s appreciation offers short-term relief, analysts caution that sustained stability depends on long-term structural reforms, diversification of export earnings, and curbing excessive import demand.
“This appreciation is encouraging, but Nigeria still needs consistent policies to protect the gains,” one FX trader said.
Conclusion: Strengthening Naira Reflects Growing Market Confidence
The latest appreciation of the Naira against the US dollar—alongside an increase in external reserves to $43.28 billion—reflects growing investor confidence and policy impact from recent government and CBN interventions.
However, maintaining this upward momentum will require sustained fiscal discipline, transparent forex management, and private sector support.
Key Takeaways
- Naira appreciated to ₦1,436.74/$1 at the official market.
- External reserves reached $43.28 billion on November 4, 2025.
- Black market rate improved to ₦1,445/$1.
- Analysts credit CBN reforms and improved liquidity for the gain.
Stay informed on Naira exchange rates, CBN updates, and Nigeria’s economic trends by following AndroidPols.com.ng for daily verified business and finance reports.
