The Nigerian Naira closed the week on a positive note, appreciating against the US dollar in both the parallel and official foreign exchange markets on October 31, 2025.
In the parallel market, the Naira strengthened to N1,475 per dollar from N1,489 the previous day. Simultaneously, in the Nigerian Foreign Exchange Market (NFEM), the official rate improved to N1,427.5 per dollar from N1,431.
This performance capped a week of consistent gains for the local currency, which appreciated by N25 in the official market and N16 in the parallel market over the past several days. The widening gap between the two exchange rates, now standing at N47.5 per dollar, will be a key point of observation for the Central Bank of Nigeria (CBN).
