Nigerian naira extended its recent gains on Monday, strengthening to a four-month high against the US dollar to close at 1518 per $1 on the official market, the Nigerian Foreign Exchange Market.
Data from the Central Bank of Nigeria (CBN) revealed that the naira gained 0.74 per cent to close at 1518 per $1 on Monday.
This marks the naira’s strongest performance since March 14, 2025, and the first time it traded below N1520 per $1 since that period, signalling a wave of positive momentum for the nation’s currency.
The naira, on March 14, closed trading at 1517.93 per $1, a major strengthening from 1547.81 per $1 on the previous day.
Value of the currency had declined by 0.11 per cent in the previous week to close at 1530.26 per $1 on Friday.