Victor EzejaThe Nigerian naira recorded marginal appreciation at the official foreign exchange market as the external reserves rose to $40.16 billion on Friday, 8 August 2025.
Data published by the Central Bank of Nigeria shows that the naira traded at ₦1,533.57 per dollar at the Nigerian Foreign Exchange Market (NFEM), on Friday.
Join our WhatsApp ChannelThis means the naira recorded a marginal gain of N0.16 against the dollar at the official foreign exchange market on Friday when compared to ₦1,533.73 it traded on Thursday.
The CBN data showed that the naira traded between a high of ₦1,536 and a low of ₦1,532 per dollar at the official market on Friday.
However, the local currency remained flat at the parallel (black) market, exchanging ₦1,565 per dollar, the same rate recorded the previous day.
Nigeria’s external reserves rose to $40.16 billion on Thursday, 7 August 2025 from $39.54 billion recorded at the beginning of the month.
Analysts have hailed the upward trend of the country’s external reserves, noting that it enables the CBN to continue targeted interventions in the FX market, aimed at boosting FX liquidity to stabilise the naira.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
