By Ebi Kesiena
The Naira appreciated against the U.S. dollar in the parallel (black) market on Wednesday, marking a modest rebound after recent declines.
A Bureau De Change operator in Abuja, Abubakar Alhasan, confirmed to the media that the local currency strengthened by ₦5, trading at ₦1,500 per dollar, up from ₦1,505 recorded on Monday.
However, the local currency moved in the opposite direction at the official foreign exchange market, where it continued to weaken against the dollar.
According to data from the Central Bank of Nigeria (CBN), the Naira fell slightly to ₦1,471.09 per dollar on Tuesday, compared to ₦1,470.26 on Monday, a marginal day-to-day loss of ₦0.83.
The contrasting movements indicate a day of mixed sentiment in Nigeria’s currency market, with traders reacting to liquidity pressures and shifting demand levels across both trading windows.
Meanwhile, the country’s external reserves continued their upward trend, rising to $42.54 billion as of October 6, 2025, from $42.44 billion recorded on October 3, reflecting steady inflows and improved reserve management.
This comes just a day after the Naira depreciated across both the official and parallel markets, underscoring the ongoing volatility in the foreign exchange landscape.
