Nigeria’s naira closed around ₦1,421.73 per US$ on the official market, its strongest level this year, after a ~2.48% week-on-week gain driven by improved foreign-currency inflows from portfolio investors.
The rally coincides with a build-up in external buffers, with foreign reserves up about $820 million between September and October 2025.
Since authorities shifted to a market-driven FX regime in June 2023, the gap between official and parallel rates has narrowed.
Traders say sustaining the uptrend will depend on steady portfolio inflows, higher oil receipts, and consistent policy signals in the weeks ahead.
