The Nigerian naira has just recorded its most robust performance of the year, trading at approximately 1,421.73 to the U.S. dollar in the official market. This marks its strongest level since the start of 2025.
This resurgence is largely driven by improved foreign-currency availability, particularly from portfolio investors entering the market, which helped lift the naira by 2.48% week-on-week.
Additionally, Nigeria’s foreign exchange reserves received a boost, with an increase of around US$820 million between September and October 2025.
Prior to the major policy shift in June 2023—which introduced a floating exchange rate—there was a marked gap between official and parallel-market valuations of the currency.
