Lagos, Sept. 17, 2025 – The Nigerian currency, Naira, appreciated against the dollar at the official foreign exchange market (AFEM) on Tuesday, closing at N1,485.05 to the dollar.
The naira exchange rate in the market on Monday was N1,495 to the dollar.
The currency has been appreciating in the official market in the last five trading days, during which it appreciated to N1, 495 on Monday.
The appreciation of the currency has been attributed to Nigeria’s rising external reserve which stands at about $42 billion and constant intervention of the Central Bank of Nigeria (CBN) in the market.
Meanwhile, the naira is being traded in the black market in Lagos at between N1,520 and N1,525 to the dollar.
