November 28, 2025
The Naira showed slight appreciation in the unofficial market but lost some value in the official market.
The local currency increased to N1,470/$ in the parallel market on Friday, up from N1,475/$ on Thursday, but dropped in the Nigerian Foreign Exchange Market (NFEM) to N1,445.9/$.
Data from the Central Bank of Nigeria (CBN) indicated that the Naira’s exchange rate depreciated to N1,445.9/$ from N1,442/$ on Wednesday, reflecting a N3.9/$ depreciation.
A 2025 overview of the Naira showed that it gained roughly 7 per cent against the American dollar year-to-date (YTD), from an average of N1,607/$ in early 2025 to current levels. This reverses a portion of the 41 per cent depreciation in 2024 losses.
On Monthly basis, naira increased by 0.79 percent to go n November with a weekly range of N1,441 to N1,472 to a dollar.
The average rate of naira this year is N1,532/$ While January saw the highest at N1,607/$, early November saw the lowest value at N1,421/$.
READ MORE; Central Bank Boost Naira With $36.6m FX Intervention.
CBN Intervenes With $50m In FX Market As Naira Encounters Pressure
Nigeria’s foreign reserves have risen to $46.7 billion, indicating the positive impact of ongoing CBN reforms on stabilizing the economy and strengthening the local currency.
Nigeria’s Foreign exchange reserves cover more than ten months of imports and greatly enhance the country’s external buffers amid a 16.05 percent inflation rate in October, alongside other macroeconomic indicators showing renewed momentum that could benefit businesses and foster more sustainable growth.
According to the CBN, Nigeria’s foreign reserves are at their highest since 2018, driven by increased oil revenue, strong balance of payments inflows, and returning foreign and portfolio investment.
This reserve level provides significant security for the country’s foreign exchange needs and intervention abilities, covering more than ten months of imports.
