Naira gains 0.7% against dollar to close week strong
The naira closed the week bullish on Friday, trading at N1,487.89 to the dollar at the official market.
According to Central Bank of Nigeria (CBN) data, the currency gained N11.08, representing a 0.7 per cent appreciation from Thursday’s N1,498.97.
The naira also opened the trading week bullish on Monday, gaining N4.03 against the dollar at the official market.
However, it slightly depreciated on Tuesday, Wednesday and Thursday, trading at N1,484.13; N1,494.01 and N1,498.97 respectively.
Analysts commended the naira’s steady recovery, attributing the gains to CBN’s reforms aimed at reducing pressure on the local currency.
Members of CBN’s Monetary Policy Committee also predicted continued appreciation in their personal statements during the 301st MPC meeting in July 2025.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
Reps to grant NBS financial autonomy to strengthen operations, independence
Mr Isiaka noted that new reforms were needed to address existing loopholes and funding challenges.
NationWide
Remi Tinubu’s post on husband’s re-election divides Facebookers
The first lady’s Facebook post generated reactions with some supporting her positions while others disagreed with her.
Hot news Home top
Another Nigerian Adetomiwa Akindele jailed over $1.6 million romance, wire fraud in U.S
The DoJ said, “Mr Akindele, age 37, a Nigerian national who had been residing in Minnesota prior to his arrest, has been sentenced to 71 months in federal prison.’’
World
Trump raises sponsorship work visa fee from $5,000 to $100,000 for firms hiring Nigerians, others
The H-1B visas used to cost between $5,000 and $6,000 per year depending on the company and industry.
States
Congress: Cross River PDP SWC tackles NWC over alleged imposition
The Cross River State chapter of the Peoples Democratic Party said it will resist any imposition of the state working committee members by the national working committee
States
NEDC donates relief materials to flood victims in Adamawa community
Mr Daniel described the gesture as a huge relief to the displaced residents.
