The Naira posted a strong three-day rally against the US dollar, gaining ₦13 at the official FX market as Nigeria’s external reserves climbed to $45.24 billion ahead of Christmas
Naira Records Strongest Rally in Days, Gains ₦13 Against Dollar as FX Market Closes for Christmas
The Naira recorded a strong appreciation against the United States dollar over the last three trading days at the official foreign exchange market, as trading activities wound down for the Christmas holidays.
Data from the Central Bank of Nigeria (CBN) showed that the local currency strengthened further on Wednesday, closing at ₦1,443.37 per dollar, compared to ₦1,449.99 recorded on Tuesday.
This performance indicates that the Naira has gained a total of ₦13.18 against the dollar since Monday, reflecting a sustained uptrend at the official market, according to figures released by the apex bank.
At the parallel (black) market, the Naira also showed modest improvement, trading at ₦1,490 per dollar on Wednesday, up from ₦1,500 on Monday, although unchanged from Tuesday’s rate.
The renewed strength of the local currency comes amid a rise in Nigeria’s external reserves, which climbed to $45.24 billion as of December 23, 2025, boosting confidence in the foreign exchange market.
NewsHeadline247 understands that the Naira had posted gains at the official market on both Monday and Tuesday, signaling positive momentum as the year winds down and ahead of the festive break.
Market analysts say the combination of improved dollar liquidity, tighter monetary controls, and rising reserves may have contributed to the currency’s recent stability
