Naira records highest appreciation against dollar

The naira recorded its highest appreciation against the dollar at the official foreign exchange market on Monday, the highest since April 30, 2025.

Central Bank of Nigeria’s exchange data showed that the strengthened to N1,600.44 on Monday from N1,606.15 traded on Friday last week.

This means that the naira gained N5.71 against the dollar on Monday when compared to N1,606.15 exchanged last week.

Meanwhile, at the black market, the naira remained flat at N1,630 per dollar on Monday, the same rate recorded at the end of work on Friday.

Recall that, in the past days, the naira recorded more depreciation than gains.

On April 30, 2025, the naira gained N3.02 against the dollar to close at N1,596.68.

SOCIETY WATCH reports that the naira has continued to experience fluctuations despite the apex bank’s monetary interventions.