The naira closed the week on a stronger note in the official foreign exchange market, appreciating to N1,474.78 per dollar on Friday.
According to data from the FMDQ Securities Exchange, the naira gained N11.17, reflecting a 0.7% increase compared to Thursday’s closing rate of N1,485.95 per dollar.
During trading at the Investors and Exporters (I&E) Forex window, the local currency fluctuated between a high of N1,495.01 and a low of N1,447.50.
The naira has maintained relative stability since December 2024, supported by sustained foreign exchange (FX) reforms implemented by the Central Bank of Nigeria (CBN) to enhance market transparency.
Speaking at the 2025 Monetary Policy Forum in Abuja on Thursday, CBN Governor Olayemi Cardoso stated that recent reforms in the FX market had continued to attract foreign investment.
He further assured that the apex bank would maintain its efforts to sustain capital inflows and strengthen the local currency.