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Naira Depreciates Amid Gains Against Pound and Euro

11/5/2025

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Summary

Story summary

On November 3, 2025, the Central Bank of Nigeria (CBN) reported that the naira depreciated to 1,436.34 per $1 from 1,421.73, a drop of 14.61.
In the parallel market, the dollar fell to 1,460 per $1 from 1,500.
The naira appreciated against the British pound to 1,970 per £1.
The naira strengthened against the euro to 1,688 per €1.
Nigeria's external reserves rose by 0.06% to $43.173 billion, signaling improved foreign exchange stability.

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Story summary

On November 3, 2025, the Central Bank of Nigeria (CBN) reported that the naira depreciated to 1,436.34 per $1 from 1,421.73, a drop of 14.61.
In the parallel market, the dollar fell to 1,460 per $1 from 1,500.
The naira appreciated against the British pound to 1,970 per £1.
The naira strengthened against the euro to 1,688 per €1.
Nigeria's external reserves rose by 0.06% to $43.173 billion, signaling improved foreign exchange stability.