ECONOMY
Naira Ends Week Stronger, Closes at N1,598.72/$ at Official Market

The Naira closed the trading week on a positive note, appreciating to N1,598.72 per US Dollar at the official foreign exchange market on Friday, May 16, 2025.
Data from the Central Bank of Nigeria (CBN) shows the local currency strengthened by N0.60k from Thursday’s rate of N1,599.32, marking a modest 0.03% gain.
Earlier in the week, the Naira recorded a 0.02% uptick on Tuesday, followed by a more significant 0.21% rise on Wednesday. However, it dipped by N2.62 on Thursday — a 0.16% decline — amid heightened Dollar demand from importers and other market participants.
Despite Thursday’s setback, analysts view the week’s overall performance as a sign of resilience, citing improved Dollar supply and growing investor confidence in Nigeria’s economy.
Market watchers continue to monitor the CBN’s strategies to enhance foreign exchange liquidity and control demand pressures, which are expected to shape the Naira’s outlook in the coming weeks.
Discover more from Naijanewstoday
Subscribe to get the latest posts sent to your email.
-
POLITICS5 days ago
C-Sagas UK Chapter Meets Founder in London, Reaffirms Humanitarian Vision
-
TECH7 days ago
OpenAI CEO Sam Altman Warns ChatGPT Conversations Aren’t Legally Confidential
-
NEWS5 days ago
Ikwo Noyo Clan Releases Official Timetable for 2025 Nnesweoha Festival
-
ENTERTAINMENT4 days ago
VeryDarkMan Breaks Down in Tears as He Announces Death of Popular Fish Seller
-
NEWS5 days ago
Nigerian Youth Advocate Calls Out Facebook’s Monetisation Policies
-
CAMPUS REPORTS7 days ago
VC Inaugurates Two New Residential Flats Built by AE-FUNAI Parents’ Forum
-
CAMPUS REPORTS5 days ago
Experts Urge Responsible AI And Data Use at AE-FUNAI Law Conference
-
POLITICS4 days ago
2027 Elections: We’re the Only Viable Alternative to APC, PDP Slams ADC
-
CAMPUS REPORTS6 days ago
AE-FUNAI Hosts ACSPN, Highlights Role of Artificial Intelligence in Media and Security
-
SPORTS7 days ago
Asisat Oshoala Shuts Down Retirement Rumors After WAFCON Triumph
-
SPORTS4 days ago
Morocco Challenges Referee Call After Super Falcons’ WAFCON Triumph
-
NEWS6 days ago
David Umahi’s Daughter Kimberly Graduates With First Class