By Charles Pemu 
The Naira ended the trading week on a positive trajectory, appreciating to N1,598.72/$ at the official foreign exchange market on Friday, May 9, 2025. This marks a N0.60k gain from Thursday’s rate of N1,599.32/$, translating to a modest 0.03% appreciation, according to figures from the Central Bank of Nigeria (CBN).
The local currency showed resilience through the week, gaining 0.02% on Tuesday and 0.21% on Wednesday, driven by improved market confidence and increased foreign exchange supply. However, Thursday saw a brief pullback as the Naira depreciated by N2.62 (0.16%) due to a spike in Dollar demand from importers.
Despite this midweek setback, the Naira’s overall weekly performance reflected a stabilizing trend. Analysts attribute the gains to the CBN’s ongoing reforms and interventions targeting enhanced Dollar liquidity and market confidence.