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The Naira closed the week on a bullish note on Friday, trading at ₦1,487.89 to the Dollar at the official market.
According to data from the Central Bank of Nigeria (CBN), the local currency gained ₦11.08, representing a 0.7 per cent appreciation from Thursday’s exchange rate of ₦1,498.97.
The Naira had also opened the trading week strong on Monday, appreciating by ₦4.03 against the Dollar. However, it experienced slight depreciation in the midweek sessions, exchanging at ₦1,484.13 on Tuesday, ₦1,494.01 on Wednesday, and ₦1,498.97 on Thursday.
Analysts commended the Naira’s resilience, attributing its steady recovery to ongoing reforms by the CBN aimed at easing pressure on the foreign exchange market.
In addition, members of the CBN’s Monetary Policy Committee (MPC), in their personal statements during the 301st meeting held in July 2025, projected a sustained appreciation of the currency in the coming months.
(NAN)
