The Nigerian naira reached N1,427.5 per U.S. dollar at the close of trading on Friday, October 31, 2025, marking the currency’s second consecutive week of gains. Data published on the Central Bank of Nigeria (CBN) website show the naira moved from N1,452.5/$1 on Monday to N1,427.5/$1 on Friday. During the week it traded at N1,447/$1 on Tuesday, N1,445/$1 on Wednesday, N1,431/$1 on Thursday.
In the parallel (street) market the naira also firmed, gaining about N50: it hit N1,435 (Buy) and N1,450 (Sell) per dollar on Friday versus N1,480 (Buy) and N1,500 (Sell) the previous day. The last recorded depreciation of note was on October 15, 2025, underscoring the solidity of the current upward trend.
Backing the move, Nigeria’s foreign-exchange reserves rose to $43.17 billion, up from $42.8 billion a week earlier, and up about $819 million from $42.353 billion at the end of September. This is one of the strongest reserve positions in months, signalling the CBN’s growing buffer and support for the naira.
Analysts attribute the pick-up to stronger dollar inflows, improving oil revenues, higher diaspora remittances and investor confidence especially after Nigeria’s removal from the Financial Action Task Force grey list. Together, the rising reserve level and currency appreciation suggest that ongoing FX-market reforms and liquidity injections may be yielding results. Future momentum will depend on maintaining these inflows and sustaining macro-economic discipline.