The Naira continued its regular appreciation streak in October, strengthening to N1427.5 per greenback on the shut of buying and selling on Friday, October 31, 2025.
That is based on knowledge printed on the Central Bank of Nigeria (CBN) web site.
In line with the information, this marks the second consecutive week of positive factors, because the foreign money appreciated from N1452.5/$1 on Monday to N1427.5/$1 on Friday, reflecting a sustained rally pushed by improved market confidence and elevated international alternate liquidity.
Throughout the week, the Naira traded at N1447/$1 on Tuesday, N1445/$1 on Wednesday, and N1431/$1 on Thursday, sustaining a constant upward trajectory all through the five-day buying and selling window.
The final recorded depreciation was on October 15, 2025, additional highlighting the continued constructive pattern.
Week-on-Week Efficiency
On a week-on-week foundation, the Naira strengthened by 1.9 p.c, closing at N1427.5/$1 in comparison with N1455/$1 the earlier week.
This enchancment additionally represents a notable rebound from N1461/$1 recorded two weeks earlier.
Analysts say this demonstrates rising resilience in Nigeria’s international alternate market.
Market analysts attribute the foreign money’s improved efficiency to elevated greenback inflows, enhanced CBN liquidity interventions, and stabilizing investor confidence within the authorities’s ongoing financial reforms.
Overseas reserves hit $43.17 billion
Complementing the Naira’s appreciation, Nigeria’s international reserves climbed to $43.17 billion, up from $42.8 billion recorded the earlier week.
This represents one of many strongest reserve positions seen in months and underscores the CBN’s prudent administration and the success of ongoing reforms.
The regular rise in reserves, based on monetary consultants, displays a mix of enhanced greenback inflows, rising oil revenues, elevated diaspora remittances, and improved investor confidence following Nigeria’s current removing from the Monetary Motion Job Power (FATF) gray checklist.
“The mix of improved reserves, stronger inflows, and renewed coverage self-discipline is clearly serving to the Naira regain floor,” mentioned Kitan Babajide, a Lagos-based monetary analyst. “Nevertheless, sustaining these positive factors will depend upon sustaining fiscal prudence, making certain clear FX administration, and accelerating structural financial reforms.”
Talking earlier in the course of the week with Nairametrics in Abuja, a number of consultants famous that the event is anticipated to draw extra international funding and enhance liquidity within the foreign exchange market.
Economist and former Director-Basic of the Lagos Chambers of Commerce and Industries (LCCI), Dr. Muda Yusuf, additionally emphasised that the event displays improved regulatory oversight and will strengthen Nigeria’s macroeconomic fundamentals.
“The exit from the FATF gray checklist will enhance FDI due to the elevated stage of confidence in Nigeria. If the capital inflows enhance, it should assist the foreign exchange surroundings. As a result of, if notion is constructive, FDI is probably going to enhance, all different issues being equal,” Yusuf mentioned.
They mentioned the transfer will improve Nigeria’s means to entry international monetary markets, cut back restrictions on correspondent banking relationships, and foster smoother worldwide transactions.
With the Naira posting constant positive factors and reserves edging increased, market observers stay cautiously optimistic.
Sustained fiscal self-discipline, clear FX administration, and ongoing structural reforms are anticipated to additional strengthen the native foreign money within the coming weeks.
Different consultants attribute the positive factors to rising oil revenues, improved international reserves, and elevated diaspora remittances.
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