The naira continued its winning streak, appreciating for the fifth day against the dollar amid rising external reserves.
The naira appreciated for the fifth consecutive time against the United States dollar at the official foreign exchange market, closing the week on a positive note.
According to data from the Central Bank of Nigeria (CBN), the naira strengthened to N1,457.96 per dollar on Friday, compared to N1,460.49 traded on Thursday, marking a daily gain of N2.53.
This marks the fifth day in a row that the local currency has appreciated against the greenback, with the highest gain recorded on Monday, October 20, 2025, according to Daily Post.
Meanwhile, at the parallel market, the naira traded steadily at N1,500 per dollar throughout the week, showing no significant movement.
The steady appreciation coincides with a continued rise in Nigeria’s external reserves, which reached $42.87 billion as of October 22, 2025, maintaining an upward trend that analysts say could further strengthen the naira in the coming weeks.