Naira extends gains for third straight day as reserves hit $43.11bn

The Naira appreciated for the third consecutive day against the US dollar at the official foreign exchange market on Wednesday, following a steady rise in Nigeria’s external reserves to $43.11 billion as of Tuesday, October 28, 2025.

Data from the Central Bank of Nigeria (CBN) showed that the Naira strengthened further to ₦1,444.42 per dollar, up from ₦1,448.21 recorded the previous day, representing a daily gain of ₦3.78.

At the parallel market, the local currency traded between ₦1,485 and ₦1,495 per dollar, according to Bureau De Change operators in Wuse Zone 4, Abuja.

News360 Nigeria reports that the Naira has gained ₦13.53 in three days, compared to the ₦1,457.96 per dollar recorded on Friday, October 24, 2025.

The appreciation coincides with the continued growth of Nigeria’s foreign reserves, which climbed to $43.11 billion on Tuesday — the highest level in recent months.