By Jemimah Wellington,
THE NAIRA gained marginal strength against the United States (US) dollar as official figures from the Central Bank of Nigeria (CBN) confirmed an appreciation in value across the foreign exchange market.
According to the official trading data released by the CBN on its forex trading portal, the naira closed at N1,421.73 per dollar on Friday, 31 October 2025.
This reflected a moderate improvement compared to the previous day’s rate of ₦1,436.97 per dollar recorded on Thursday, 30 October 2025.
The CBN data showed that the naira’s performance marked a steady recovery trend in the official market as trading activities stabilised following ongoing policy adjustments in Nigeria’s foreign exchange system.
The apex bank’s figures indicated a consistent effort to narrow the gap between the official and parallel market rates, ensuring improved liquidity and transparency across the forex trading environment.
Market observers noted that the official rate represents transactions conducted through the CBN-managed window, which serves as the reference point for regulated forex dealings in the country.
The figure is published daily on the CBN’s official platform to provide an accurate benchmark for authorised dealers, importers, and financial institutions participating in the market.
Meanwhile, traders in the Bureau De Change (BDC) segment continued to operate under existing regulatory guidelines.
The BDC sector, regulated by the CBN, complements official forex operations by serving retail customers requiring smaller denominations of foreign exchange for business and personal needs.
The latest data underscored the monetary authority’s continued focus on exchange rate stability, with the CBN maintaining oversight of currency flows and demand management through approved financial channels.
The official portal remains the primary source for verified information on daily forex rates between the naira and major global currencies.
The CBN reiterated its commitment to managing Nigeria’s foreign exchange market transparently and efficiently.
According to the apex bank, the publication of verified exchange rate data ensures that stakeholders, investors, and the public can rely on accurate, timely information for decision-making within the economy.
The moderate appreciation of the naira aligns with recent monetary policy efforts aimed at restoring investor confidence and improving access to foreign currency through formal market mechanisms.
Financial analysts continue to monitor the outcomes of these interventions as the local currency navigates a competitive international trading environment.
The CBN’s exchange rate disclosure for Friday, 31 October 2025, remains the official reference rate for the start of the new trading week.
The next update will reflect the naira’s movement across interbank and investor windows as market activities resume.
For accurate daily updates, members of the public are advised to refer to the CBN’s official forex trading portal, which remains the only authorised platform for verified exchange rate information in the country.
