The Naira appreciated against the US dollar in the parallel (black) market on Tuesday, marking a slight rebound after previous losses.

A Bureau De Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, confirmed to DAILY POST that the local currency strengthened by ₦5, trading at ₦1,500/$1 compared to ₦1,505/$1 on Monday.

However, at the official foreign exchange market, the naira continued to face mild pressure. Data from the Central Bank of Nigeria (CBN) showed that the currency weakened for the second consecutive day, closing at ₦1,471.09/$1 on Tuesday—down from ₦1,470.26/$1 recorded the previous day. This reflects a marginal daily drop of ₦0.83.

The day’s movement highlights mixed performance in the FX market, with the naira showing resilience in the black market but softening slightly at the official window.

Meanwhile, Nigeria’s external reserves continued their upward trend, rising to $42.54 billion as of October 6, 2025, up from $42.44 billion on October 3.

This latest development comes just a day after the naira depreciated across both official and parallel markets, suggesting ongoing fluctuations amid efforts to stabilize the exchange rate.