The naira recorded its highest appreciation this year at the close of October when it settled at 1,421.73/$ at the Nigerian Foreign Exchange Market, data from the Central Bank of Nigeria has revealed.
The naira traded below the 1,500/$ threshold throughout October at the official market, indicating stability, and appreciated by 3.63 per cent from 1,475.34/$ as of 30 September 2025. In October, the naira traded at its weakest rate of 1,475.35/$ on 17 October 2025.
At the parallel market, the story was not too different, as the domestic currency closed at N1,450.00/$ on Friday, according to media report.