The Nigerian naira on Tuesday recorded its biggest single-day appreciation against the US dollar in months, strengthening at the official foreign exchange market.

According to data from the Central Bank of Nigeria (CBN), the naira traded at N1,484.14 per dollar, a sharp improvement from N1,497.47 on Monday. This represents a gain of N13.33, the highest one-day rise this week and the strongest since February 2025.

The positive movement is linked to Nigeria’s growing external reserves, which climbed to $41.84 billion as of September 15, 2025, up from $41.70 billion recorded on September 12.

At the black market, however, the naira remained unchanged at N1,537 per dollar, the same rate it closed on Monday.

Analysts say the boost in external reserves has strengthened investor confidence and provided more support for the local currency in the official market.

The development offers some relief to businesses and consumers, though experts note that sustaining the trend will depend on continued stability in reserves and effective monetary policies.