The naira ended the trading week on a stronger note at the official foreign exchange market, appreciating against the United States dollar and extending its recent stability.

According to data from the Central Bank of Nigeria (CBN), the local currency closed at ₦1,380.18 per dollar on Friday, gaining ₦1.34 compared to the previous day’s closing rate of ₦1,381.52 per dollar.

The appreciation represents a modest improvement in the official exchange rate and reflects the naira’s relatively stable performance despite fluctuations recorded during the week.

Market analysts attributed the currency’s performance to ongoing foreign exchange reforms aimed at improving market transparency, enhancing liquidity and restoring investor confidence in Nigeria’s foreign exchange market.

The latest gain comes amid continued efforts by monetary authorities to strengthen exchange rate stability and support broader macroeconomic reforms.