The Naira finally showed signs of recovery on Wednesday, recording its first appreciation against the US dollar this week at the official foreign exchange market.

According to the Central Bank of Nigeria (CBN), the Naira strengthened to ₦1,470.62 per dollar, improving from ₦1,471.09 traded on Tuesday. This marks a modest ₦0.47 gain for the local currency on a day-to-day basis.

Earlier in the week, the Naira had faced downward pressure on both Monday and Tuesday, reflecting continued market volatility.

Meanwhile, at the parallel (black) market, the exchange rate remained unchanged at ₦1,500 per dollar, maintaining the same level as the previous day.

CBN data also showed that Nigeria’s external reserves stood at $42.57 billion as of October 7, 2025, a key factor influencing the stability of the foreign exchange market.

The slight appreciation offers a glimmer of relief amid ongoing efforts by the apex bank to stabilize the Naira through policy interventions and improved dollar liquidity.