Wisdom Engraced
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The naira has ended the week on a bullish note, continuing its appreciation against the dollar at the official foreign exchange market. According to the Central Bank of Nigeria’s exchange data, the naira firmed up slightly to N1,535.04 against the dollar on Friday from N1,535.78 on Thursday, representing a N0.74 gain on a day-to-day basis.
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At the black market, however, the naira remained flat at N1,550 on Friday, unchanged from the previous day
On a week-on-week basis, the naira lost N2.53, or 0.17 percent, at the official market compared to N1,532.51 traded on August 15, 2025. In contrast, the naira appreciated by N10, or 0.65 percent, at the black market, rising from N1,560 last week Friday to N1,550 per dollar this Friday.
The naira’s performance comes as Nigeria’s external reserves continued to surge, reaching $41.08 billion as of August 21, 2025, according to CBN data. This development is seen as a positive indicator for the country’s economy and currency market.
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Jonathan Nwokpor
