Business
Naira Maintains Stability Versus Dollar After Tuesday’s Trade
By Benjamin Abioye
On Wednesday, October 29, 2025, the naira exchanged at ₦1,499 per US dollar across Nigeria.
This represents a stable rate compared to Tuesday, October 28, when the naira also traded at ₦1,499 per dollar. The unchanged figure shows that the currency has maintained its value, with no sign of depreciation or improvement in the short term.
Market analysts see this steadiness as a positive signal, especially following recent weeks of fluctuations in the foreign exchange market. They believe that sustaining this rate points to a temporary balance between demand and supply, suggesting that ongoing monetary interventions may be stabilizing the market.
For importers, manufacturers, and business owners who depend on foreign exchange, this consistency provides short-term predictability. The absence of sudden rate changes allows better financial planning and reduces uncertainty in pricing and operational costs.
Experts attribute the current trend to steady oil revenue inflows, rising remittances, and government policies aimed at strengthening liquidity. They note that if this pattern continues, it could slowly boost investor confidence and ease inflationary pressures.
However, analysts caution that the naira’s stability remains fragile, as it is still influenced by global oil price trends and international fiscal developments. They stress that long-term improvement will rely on economic diversification and stronger local production.
At ₦1,499 per dollar, the naira’s value remains unchanged from the previous day — neither worse nor improved — but it reflects a steady and cautiously balanced outlook for the foreign exchange market.
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