The naira continued its appreciation against the United States dollar at the official foreign exchange market on Tuesday, reflecting sustained improvement in the local currency’s performance.

Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened to N1,463.45 per dollar on Tuesday, compared to N1,465.29 traded on Monday. This represents a day-to-day gain of N1.8 at the official FX market.

However, at the parallel (black) market, the naira remained stable at N1,500 per dollar, maintaining the same rate recorded on Monday.

The positive trend coincides with a further increase in the country’s external reserves, which rose to $42.79 billion as of October 20, 2025, up from $42.69 billion on October 17, according to the latest CBN data.

Recall that the naira had opened the week strongly, recording notable gains against the dollar at the official market on Monday, continuing the momentum driven by improved foreign exchange liquidity and rising investor confidence.