Naira records highest gain against dollar amid rising external reserves

The Naira on Thursday recorded the highest single-day gain against the dollar at the official foreign exchange market this week amid a continued rise in the country’s external reserves, hitting $41.24 billion.

The Central Bank of Nigeria’s data showed that the Naira appreciated to N1,535.47 per dollar on Thursday, up from N1,537.07 on Wednesday.

This means that the Naira strengthened by N1.6 per dollar, the highest gain margin since Monday, August 2025.

Meanwhile, at the parallel foreign exchange market, the Naira remained flat at N1,548 per dollar on Thursday, the same rate traded the previous day.

DAILY POST reports that the Naira recorded its first appreciation against the dollar this week on Wednesday; it firmed up by N0.54 at the official exchange market.

This comes after a sustained rise in the country’s external reserves to $41.24 billion as of Wednesday, up from $41.22 billion on Tuesday, according to CBN data.

Naira records highest gain against dollar amid rising external reserves