The Naira recorded its first appreciation against the US dollar at the official foreign exchange market on Tuesday.

Data from the Central Bank of Nigeria (CBN) showed that the Naira strengthened to ₦1,447.43 per dollar, up from ₦1,448.03 on Monday, representing a daily gain of ₦0.60.

However, in the black market, the Naira remained steady at ₦1,465 per dollar, unchanged from Monday’s rate.

Meanwhile, Nigeria’s foreign reserves have risen significantly. According to CBN data, reserves stood at $43.97 billion as of November 17, 2025. Speaking at an event on Tuesday, CBN Governor Olayemi Cardoso noted that the reserves recently hit a seven-year high of $46.7 billion as of November 14.

The appreciation of the Naira and rising reserves indicate growing stability in the country’s foreign exchange and external reserves position.