Bloomberg: Nigerian Naira Strengthens As Reserves Increases
October 3, 2025
11:53 pm
Bloomberg reports show Naira currency edges up on muted dollar demand, Kenya’s Shilling holds steady, while Ghana’s Cedi and Zambia’s Kwacha under pressure.
Nigerian Naira edged higher against the U.S. dollar in September, supported by rising foreign reserves and muted demand for hard currency, Bloomberg reported. Traders expect the local unit to maintain slight gains in the coming days, helped by central bank interventions.
The naira gained ₦50.75 during the month, trading around 1,478 per dollar in the official market on Thursday, compared with 1,485 a week earlier. On the parallel market, the exchange rate was quoted at about 1,485 …
