The Naira wrapped up the trading week with a gain, appreciating to N1,598.72 per Dollar at the official foreign exchange market on Friday, May 16, 2025.
According to figures published by the Central Bank of Nigeria (CBN), the local currency gained N0.60k from the previous day’s rate of N1,599.32, reflecting a 0.03% appreciation.
The currency had earlier shown resilience with gains of 0.02% on Tuesday and a stronger 0.21% rise on Wednesday, before slipping by N2.62 on Thursday — a 0.16% depreciation — due to increased Dollar demand by importers and other market players.
Despite Thursday’s dip, analysts say the overall trajectory for the week was encouraging, pointing to increased supply and renewed investor confidence in the Nigerian economy.
Experts continue to watch the Central Bank’s efforts to boost Dollar liquidity and manage demand pressures, as these factors are expected to determine the Naira’s performance in the weeks ahead.
