Naira records appreciation against dollar week-on-week basis

The Naira has been making some pockets of appreciation against the dollar recently. It recorded N14.98 or 1.02 per cent, against the United States Dollar on a week-on-week basis at the official foreign exchange market.

This is the case as the Naira closed at N1,465,68 per dollar on Friday at the official market, up from N1,480.66 traded last week Friday, according to Central Bank of Nigeria official data.

At the black market, the Naira strengthened by N10 against the dollar on a week-on-week basis when compared to N1,495 traded at the close of work on September 27th, 2025.

This means that despite the day-to-day depreciation of the naira against the dollar on Friday, the currency firmed up on a week-on-week basis at both official and parallel foreign exchange markets.

The naira’s uptrend against the dollar is not unconnected to Nigeria’s continued rise in external reserves to $42.40 billion as of October 2, 2025, up from $42.26 billion recorded on September 26.

This means the country’s external reserves grew by 0.33 per cent on a week-on-week basis.

Some analysts insist that the Naira is appreciating because the dollar is losing value currently, and not the reverse.