Naira Rallies at Official FX Window, Gains N2.59 as Reserves Climb

|By Babatunji Wusu

The Nigerian naira strengthened against the United States dollar at the official foreign exchange market on Monday, opening the week on a positive note.

Data from the Central Bank of Nigeria showed the naira firmed up to N1,451.82 per dollar on Monday, improving from N1,454.41 recorded at the close of trading on Friday. The movement reflects a N2.59 gain at the official window.

However, the local currency slipped slightly at the parallel market, where it traded at N1,493 per dollar on Monday, weakening by N2 from the N1,495 exchanged previously.

Market analysts link the official market appreciation to sustained improvements in Nigeria’s external buffers. The nation’s foreign reserves rose to $45.47 billion as of December 12, 2025, reinforcing confidence in the apex bank’s capacity to support the currency.

Despite Monday’s rebound, the naira recorded only one appreciation against the dollar throughout the previous week, underscoring ongoing volatility in the foreign exchange market.