The naira began the week on a positive note as it recorded fresh gains against the United States dollar in both the official and parallel (black) foreign exchange markets on Monday.
At the black market, the local currency strengthened to ₦1,485 per dollar, compared to ₦1,500 traded last Friday, October 25, 2025 — representing a ₦15 gain within two trading days.
Confirming the development, Abubakar Alhassan, a Bureau De Change operator in Wuse Zone 4, Abuja, said that there was improved supply and moderate demand for the dollar in the market on Monday.
“Yes, the rate came down today. We are selling at ₦1,485 to the dollar. On Friday, it was ₦1,500. The naira is improving slowly because more people are bringing dollars to sell,” Alhassan said.
At the official market, data from the Central Bank of Nigeria (CBN) indicated that the naira also appreciated by ₦5.16, closing at ₦1,452.79 per dollar on Monday, compared to ₦1,457.96 on Friday.
This marks the fifth consecutive session of appreciation for the local currency at the official window, showing a steady recovery trend that market analysts attribute to recent CBN interventions and improved liquidity across trading platforms.
Analysts Link Gains to Improved Dollar Supply
Financial experts said the sustained recovery of the naira reflects a gradual return of confidence in Nigeria’s foreign exchange management and a response to the apex bank’s ongoing reforms.
A currency trader who spoke anonymously said, “There has been better access to foreign exchange in the official market recently, which is also affecting the black market positively. If the supply continues, we may see the naira trading below ₦1,480 in the coming days.”
