The Nigerian naira strengthened for the third consecutive trading session on Wednesday, appreciating by N3.40 against the US dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
According to closing data published by the Central Bank of Nigeria (CBN), the naira closed at N1,442.92 per dollar, improving from Tuesday’s rate of N1,446.3156. The latest gain brings cumulative appreciation over the past three days to N10.92, helping the currency recover ground lost during a brief weakening spell last week.
In the parallel market, the naira held steady at N1,465 per dollar, showing no change from the previous day and maintaining a relatively narrow gap with the official window.
Currency traders attributed the sustained recovery to continued improvement in dollar liquidity at the official market and growing confidence among investors. Nigeria’s external reserves have also provided support, rising to $44.46 billion as of November 24, 2025, the highest level in recent months, according to the latest CBN update.
Market participants say the combination of stronger reserve accretion and prudent intervention by the apex bank has helped stabilise sentiment and narrow speculative attacks on the naira.
The ongoing appreciation marks a welcome turnaround for the local currency, which has faced significant pressure throughout much of 2025 amid fluctuating oil prices and seasonal import demand. Analysts will be watching whether the naira can consolidate these gains and push below the psychological N1,440 threshold in the coming sessions.
