The naira strengthened to 1,531.57/$ on the Nigerian Foreign Exchange Market, indicating a 0.23 per cent appreciation from the previous week, when it traded at 1,531.57/$.
On a month-on-month basis, the naira appreciated 0.13 per cent from 1,533.55/$ at the end of July. This performance showed that it moved back from the negative territory that it ended July in.
The naira closed out July 2025 at 1,533.55/$ at the official market, which is about 0.25 per cent weaker than the 1,529.71/$ that it had closed in June.
Also in August, the external reserves hit $41.00bn and have consistently risen since then to close at $41.27bn as of Friday.