Naira Appreciates Against Dollar On November 3 Trading

On Monday, November 3, 2025, the naira exchanged at ₦1,459 per US dollar across Nigeria.

This shows a slight improvement compared to Sunday, November 2, when the naira traded at ₦1,464 per dollar. The ₦5 gain indicates a mild appreciation, suggesting a small positive shift in market direction after previous flat trading sessions.

Market watchers say this gentle upward movement—though not large—signals increased confidence and a possible early sign of improving FX supply conditions. They note that such appreciation helps calm market anxiety, particularly following a period of sharp fluctuations.

For businesses, importers, and individuals engaged in dollar-dependent activities, the modest gain offers a bit of breathing space. While not significant enough to lower costs dramatically, it reduces immediate pressure and offers a better outlook for short-term planning and essential transactions.

Economists link the currency’s slight recovery to improved foreign exchange liquidity, better oil market expectations, and continued monetary tightening efforts designed to stabilize the naira. They explain that even small gains can help reinforce investor confidence and support inflation control if sustained.

However, analysts warn that the appreciation remains fragile, with global oil trends, capital flows, and domestic economic challenges still able to affect the naira’s direction. They stress the need for long-term structural reforms, increased non-oil exports, and broader FX sources to maintain momentum.

At ₦1,459 per dollar, the naira shows an improvement from the previous rate, offering a cautious positive signal as investors monitor economic data and government policy actions closely.

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