Naira gains 0.7% against dollar to close week strong
The naira closed the week bullish on Friday, trading at N1,487.89 to the dollar at the official market.
According to Central Bank of Nigeria (CBN) data, the currency gained N11.08, representing a 0.7 per cent appreciation from Thursday’s N1,498.97.
The naira also opened the trading week bullish on Monday, gaining N4.03 against the dollar at the official market.
However, it slightly depreciated on Tuesday, Wednesday and Thursday, trading at N1,484.13; N1,494.01 and N1,498.97 respectively.
Analysts commended the naira’s steady recovery, attributing the gains to CBN’s reforms aimed at reducing pressure on the local currency.
Members of CBN’s Monetary Policy Committee also predicted continued appreciation in their personal statements during the 301st MPC meeting in July 2025.
(NAN)
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