Naira Gains Ground as Official Market Opens Week on Bullish Note

|By Babatunji Wusu

The Naira strengthened against the United States dollar on Monday, opening the week on a bullish trajectory in the official foreign exchange market.

Fresh data from the Central Bank of Nigeria revealed that the local currency appreciated to N1,453.84/$1, an improvement from N1,456.72/$1 recorded at the close of trading last Friday. The movement shows the Naira firmed up by N2.88 within a single trading day.

However, activity at the parallel market remained unchanged, with the Naira trading flat at N1,465/$1 on Monday.

The positive trend in the official market aligns with a noticeable rise in the nation’s external reserves, which climbed to $44.26 billion as of November 21, 2025, according to CBN figures.

Monday’s appreciation comes after the Naira suffered more losses than gains throughout the previous week.