Sustaining its previous momentum, the naira appreciated further against the U.S. dollar, reflecting improved market confidence and easing demand pressures in the foreign exchange market.

The Nigerian currency also appreciated against the British pound to N2,065/£1 and  N2,070/£1 while it maintained the same sell price of N2,090/£1 as the previous day.

Against the euro, it depreciated to N1,765/€1 from N1,760/€1, while the sell price rose to N1,785/€1 from N1,780/€1.

In the official market, the naira declined to N1,487/$1 from the previous day’s close of N1,489/$1. Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira fluctuating between N1,482.55/$1 and N1,495/$1 during Tuesday’s trading session.

The naira’s strength signals renewed momentum in the foreign exchange market, though sustained gains will require firm fiscal discipline and consistent monetary reforms.

This performance is a 1.3% week-on-week increase, compared to last Friday’s close of N1,535/$1.

However, the naira lost ground against other major currencies. It depreciated to N2,085/£1 against the British pound from N2,075/£1, with the sell price rising to N2,110/£1 from N2,100/£1.

Against the euro, it slipped to N1,770/€1 from N1,765/€1, while the sell price increased to N1,790/€1 from N1,785/€1.

In the official market, the naira also advanced, closing at N1,488/$1, stronger than Thursday’s N1,499/$1. Data from the Nigerian Foreign Exchange Market (NFEM) showed it traded between N1,481/$1 and N1,499/$1 during Friday’s session.

Overall, the naira showed resilience against the U.S. dollar this week, supported by improved dollar supply and recent market interventions.

Still, analysts note that global economic conditions will continue to weigh on the exchange rate in the coming weeks.

In the parallel market, it traded at N1,530/$1, an improvement from last Friday’s close of N1,535/$1.

However, against the British pound, the local currency slipped to N2,090/£1 compared to N2,085/£1 last week, while it sold at N2,110/£1 from N2,100/£1.

The naira gained slightly against the euro, closing at N1,770/€1 from N1,775/€1, while the selling price stood at N1,795/€1, up from N1,790/€1.

In the official market, the naira also extended its recent positive run, appreciating to N1,497/$1 on Monday from N1,501/$1 at the close of trading last Friday.

Data from the Nigerian Foreign Exchange Market (NFEM) showed transactions ranging between N1,493/$1 and N1,502/$1 during the day’s session.

Analysts say the gains against the dollar reflect improved forex liquidity and stronger market confidence. Still, sustaining the trend will depend on consistent policies, increased capital inflows, and broader economic stability.

Demand for the dollar continued to put pressure on the local currency, leading to fresh depreciation.

Against other major currencies, the naira also slipped, trading at N2,085/£1 compared to N2,075/£1 the previous day. It held steady at N2,110/£1 on the sell price side.

Against the euro, the naira dropped to N1,775/€1, from N1,770/€1, while the sell price rose to N1,795/€1 from N1,790/€1.

At the official market, the naira exchanged at N1,537/$1 during the day’s trading, compared to N1,535/$1 previously.

Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira fluctuated between N1,534/$1 and N1,538.50/$1 on Wednesday.

The naira’s movement highlights persistent pressure in the foreign exchange market, with traders and analysts noting that the currency’s stability hinges on sustained reforms and improved dollar liquidity.

This represents 5.49 per cent depreciation against the dollar, when compared with the level of N1,350 per dollar closed on Friday at the black market.

Traders attributed the naira weakness to increased demand for the greenback by end users who want to travel for business, tourism, health or education.

At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency closed flat on Friday at N1,400.40 per dollar, losing slightly by 0.16 per cent compared with N1,402.67 closed on Thursday.

The intraday high closed at N1,435 on Friday, stronger than N1,445 closed the previous day. The intraday low depreciated to N1,300.40 on Friday as against N1,299.42 on Thursday.

The volume of dollars supplied by willing buyers and willing sellers declined by 13.29 percent to $201.88 million on Friday from $232.84 million recorded on Thursday.

The Naira closed flat at N1,380 against the dollar on the parallel market (Leadership).