The Nigerian naira appreciated against the US dollar at the official foreign exchange market on Monday, beginning the week on a positive note amid a steady increase in the country’s external reserves.
Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened to ₦1,531.95 per dollar on August 4, 2025, compared to ₦1,533.74 recorded on the previous trading day, Friday, August 1. This marks a ₦1.79 gain for the local currency within the official window.
However, activity in the parallel market remained largely unchanged, with the naira trading flat at ₦1,560 per dollar, the same rate recorded at the close of last week.
The modest appreciation of the naira comes amid a continued rise in Nigeria’s external reserves, which climbed to $39.54 billion as of August 1, 2025. This represents an increase from $39.36 billion recorded just two days earlier on July 30, 2025.
Analysts suggest the strengthening naira and improving reserves signal increased foreign exchange inflows and sustained efforts by the CBN to stabilise the market and restore investor confidence.
