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Naira Official rate falls to N1,497.5 per dollar
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Black market stable at N1,537 per dollar
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External reserves surge to $41.7bn
The Naira appreciated below N1,500 per dollar at the official foreign exchange market on Monday, marking its strongest rally since February 2025.
Data from the Central Bank of Nigeria showed that the Naira closed at N1,497.5 per dollar, strengthening from N1,501.5 traded last Friday.
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The gain represents a N4.03 appreciation, bringing the exchange rate below the N1,500 threshold for the first time in seven months.
At the parallel market, however, the Naira remained steady at N1,537 per dollar, the same level it traded over the weekend.
READ ALSO: Naira Weakens Further, Hits N1,538/$ in Parallel Market
This stability indicates that while the official window reflects strengthening, the informal market continues to resist significant movement.
The currency rebound coincides with a notable rise in Nigeria’s external reserves, which climbed to $41.70 billion as of September 12, 2025.
Analysts note that the reserves boost has reinforced the CBN’s ability to defend the Naira in both the official and black market segments.
