Victor Ezeja
The Nigerian currency, the naira, has hit a six-month high of ₦1,506.84 at the official foreign exchange market on Monday, 8 September 2025.
The last time the naira traded around that range at the Nigerian Foreign Exchange Market (NFEM) was on 5 March 2025, when it recorded ₦1,500.80 per dollar.
Join our WhatsApp ChannelAccording to the Central Bank of Nigeria (CBN) data, the naira gained ₦8.02 when compared to ₦1,514.86 recorded on Thursday, 4 September 2025, the last trading day of last week before the public holiday.
The naira traded between a high of ₦1,513.00 and a low of ₦1,501.50 per dollar on Monday, marking a new high for the local currency in the last six months.
READ ALSO: Naira Records Marginal Gain As External Reserves Hit $41.27bn In August
At the parallel market, the Naira appreciated to ₦1,530 per dollar from ₦1,535 per dollar last week Thursday.
This comes amid rising FX reserves in recent times, giving CBN the opportunity to continue its interventionist measures to boost liquidity in the foreign exchange market. The reserves rose to $41,54 billion as of 4 September 2025, the highest in four years, according to CBN data.
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.
