The naira appreciated sharply against the United States dollar in the official foreign exchange (FX) market on Thursday, October 30, 2025.
The naira hit a new all-time high of N1,436.97 per dollar, its strongest level since the commencement of trading on the Electronic Foreign Exchange Matching System (EFEMS).
This marks the third consecutive day of gains for the local currency.
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Data from the Central Bank of Nigeria (CBN) revealed that the latest rate represents a appreciation of N224.15 or 15.59 per cent when compared to the N1,661.12 per dollar quoted in December 2024 at the Nigerian Foreign Exchange Market (NFEM).
On a daily basis, the naira also strengthened by 0.52 per cent from N1,444.42 quoted on Wednesday at the EFEMS.
In the parallel market, popularly known as the black market, the local currency appreciated by N20 or 1.4 per cent to close at N1,460 per dollar on Thursday, stronger than N1,480 recorded on Wednesday.
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