The naira extended its gain on Friday, October 31, 2025, closing the trading week stronger at N1,421.73 to the United States dollar at the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) revealed that the naira appreciated by N15.23 or 1.07 per cent compared with N1,436.97 recorded on Thursday.
The latest gain continues a weeklong positive trend that has seen steady appreciation in the value of the local currency.
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The currency traded at N1,452.79 to the dollar on Monday, N1,448.20 on Tuesday, and N1,444.42 on Wednesday.
Financial analysts have lauded the sustained improvement of the naira across both official and parallel markets, attributing the stability to key economic factors.
They cited Nigeria’s removal from the Financial Action Task Force (FATF) grey list, rising oil revenues, improved foreign reserves, and increased diaspora remittances as major drivers of the recent gains.
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