Lagos, Oct. 14, 2025 – The Nigerian currency, the Naira, depreciated slightly at the official foreign exchange market on Monday, closing at N1,460 to the dollar.
The naira exchange rate at the market on Friday was N1,458 to the dollar.
Bid rate quoted by dealers on Monday ranged from N1,448 to N1,463.50 to the dollar
Meanwhile, the Naira, is being traded at between N1,490 and N1,495 to the dollar at the black market in Lagos.
The Nigerian currency has been appreciating consistently at the official market since it crossed the N1,500 mark, a situation attributed to the country’s positive economic outlook, stable foreign exchange market, constant injection of liquidity into the market and Nigeria’s growing external reserve.
The Central Bank of Nigeria injected $22,000 into the market last week, while the country’s external reserves rose to $42.58 billion last weekend.
