Naira Ends Week Bullish, Gains 77 Kobo Against Dollar at Official Market
The naira appreciated by 77 kobo against the U.S. dollar on Friday, July 18, 2025, closing the week at N1,532.34/$1 at the official market.
This marks a 0.05 per cent gain from N1,533.11/$1 recorded at the close of trading on Thursday, according to data published on the Central Bank of Nigeria’s official website.
The local currency had opened the week strong on Monday, July 14, gaining N11.37 against the dollar. However, market sentiment shifted mid-week following the death of Nigeria’s former President, Muhammadu Buhari, on Sunday, July 13, in a London hospital at the age of 82.
President Bola Tinubu declared a seven-day national mourning period and a public holiday on Tuesday, during which Buhari was buried in his hometown, Daura, Katsina State.
Following the holiday, the naira slumped by N11.36 on Wednesday and further declined by N2.85 on Thursday before recovering slightly by 77 kobo to close the week on a bullish note.
The Central Bank and market analysts continue to monitor the naira’s movement amid ongoing reforms and global economic pressures.
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